17 states to benefit from Fed Govt’s $29.9b loan

Seventeen states of the federation are to benefit from the 2016/2018 Medium Term Development Plan of the Federal Government which is expected to be financed from the $29.9 billion loan being sought by President Muhammadu Buhari.

The states, according to a document sighted by The Nation yesterday in Abuja, include Kaduna, Ogun, Borno, Yobe, Adamawa. Gombe, Delta, Imo, Plateau. Bauchi, Anambra, Ekiti, Lagos, Ebonyi. Abia, Katsina and Jigawa.

It was learnt that $364million  of the loan will also be used for financing Nigerian Electricity Transmission and Access Project, $500 million for Social Inclusion and Welfare Advancement project while $300million will go to Power Sector Guarantees Project to guarantee investors’ fund.

The Nation, December 13

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