FG sets up panel to recover N614bn from 35 states

A committee has been put in place by the Federal Government to facilitate recovery of N614bn given to 35 states for budget support.

This is as the Minister of Finance, Budget and National Planning, Zainab Ahmed, reiterated that the 2020 budget would be laid before the National Assembly in September.

Briefing state house correspondents after the National Economic Council meeting presided over by Vice President Yemi Osinbajo at the Presidential Villa, Abuja, Ahmed, who presented an update to the council on the budget support facility, said that each of the 35 states that benefited from the facility was expected to pay back the equivalent of N175bn.

She said, “Council agreed to constitute a committee of the Nigerian Governors’ Forum to meet with the minister of finance and the Central Bank of Nigeria to finalise modalities for repayment.”

Council, she added, was briefed on preparations for the 2020-2022 Medium Term Expenditure Framework and the revenue generation challenges facing the government.

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