Acting President Yemi Osinbajo has asked the national
assembly to approve $1.5 billion loan for 12 states.
The states are Kaduna, Ogun, Ebonyi, Abia, Katsina,
Jigawa, Kano, Enugu, Plateau and Ondo.
The loan is part of the 2016-2018 external borrowing
plan.
In letters read in both chambers of the national
assembly, Osinbajo said the approval of the loan
would help the states meet up with their various
projects.
“You may wish to know that the request for the
separation of the state’s projects from the list became
imperative in view of the state current economic
realities in the country and the pressing needs of these
states to provide infrastructural and social amenities
for their citizens,” it read.
“The total loans for the states being presented for
special consideration and approval is US$
1,492,400,000.00 as listed in paragraph in 1 above.”
A breakdown of the loan request shows that Kaduna is
seeking $350 million (World Bank), Ogun, $350 million
(World Bank), Ebonyi, $70 million (AfDB) and Abia,
$100 million (AfDB).
Also, Katsina intends borrowing $110 million (Islamic
Development Bank), Jigawa, $32.4 million (Islamic
Development Bank), Ebonyi, $80 million (Islamic
Development Bank) and Kano, $200 million.
Enugu, Kano, Plateau and Ondo are together seeking a
sum of N200 million from French Development
Agency.
TheCable
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