President Muhammadu Buhari
Okays N28b budget support loan for states
President Muhammadu Buhari on Thursday approved the setting up of a Federal Government committee to support plans for the burial of former Vice President Dr. Alex Ekwueme.
This came as the Federal Executive Council (FEC) on Wednesday observed one minute of silence in honour of the late Nigerian Vice President.
Senior Special Assistant on media and publicity to the Vice President, Laolu Akande gave the indication while briefing State House Correspondents after the National Economic Council (NEC) meeting, which held at the presidential villa, Abuja.
Akande did not give details regarding those nominated as members but said that the panel would be headed by the Secretary to the Government of the Federation (SGF) Boss Mustapha.
Dr. Ekwueme died Sunday night in a London hospital. He had collapsed about a week earlier and was subsequently taken abroad for treatment.
Members of NEC made up of governors of the 36 States of the Federation at the meeting in Abuja yesterday signed a condolence register in honour of the late Ekweme.
Also yesterday, President Buhari okayed release of a N800 million budget support loan facility to each of the 35 states of the Federation.
The loan facility represents the federal government financial support to the states to aid in their sundry obligations, including to offset payment of salaries and pensions.
Speaking to State House Correspondents after the National Economic Council (NEC) meeting presided by Vice President Yemi Osinbajo, the minister of Budget and National Planning Udoma Udo Udoma said the total amount that will be received by the states would be N28billion.
He said the Accountant General of the Federation, Idris Ahmed informed council that approval has been received and CBN has been directed to facilitate payment to each of the 35 states.
Udoma said the governors at the meeting expressed appreciation to the Federal Government for the restoration of the Budget Support Loan Facility for July and August 2017.
The minister disclosed that Council was also briefed on the Excess Crude Account (ECA) which balance as at November 17, 2017 was $2.309billion.
According to him, the balance of the Stabilization Fund Account (SFA) stood at N6.689billion as at November 17, 2017 while the balance in the Natural Resources Development Account stood at N100.314billion as at November 17, 2017.
Governor of Ondo State, Rotimi Akeredolu who joined the briefing said council received a report of its ad-hoc Committee set up in September, to advise the government on export promotion.
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