FG: No budget support facility deduction from states till April 2021

FG spent N6.46trn on debt servicing

The Federal Government of Nigeria has reassured that the deduction of the Budget Support facility to States would remain suspended until April, 2021. Recall that the federal government has been waiving the deductions since April this year as a supportive measure to help states finances stabilize. Zainab Ahmed, minister of finance, budget and national planning, stated at the National Executive Council (NEC) meeting of August 2019 the FG was making moves to recover the N614 billion given to 35 states as budget support facility. Ahmed had announced that the council…

Read more