See List of States That Have Applied for N510bn Federal Government Guaranteed Loan

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Thirty-five states of the federation, including Benue, have applied for the N510bn guarantee loan made available by the federal government, a source disclosed.

According to the Minister of Finance, Mrs Kemi Adeosun who confirmed the 35 states had applied said “monthly disbursements to each state will be conditional on compliance with pre-agreed Fiscal Sustainability Plan (FSP) milestones.”
Unlike the previous bailout which was given in bulk, she said the states would share N50 billion per month in the first three months and N40 billion per month for the following nine months. 
She said the reforms will take 18 months to fully implement” and states are in the process of submitting the required documentation, which are being reviewed.
Adeosun gave the assurance that diversification of the economy would increase when each state starts to increase their Internally Generated Revenue (IGR), as it would create local jobs and expand wealth within the states. 

Source:Benue.com.ng

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