FG to disburse naira 655 billion bridge loan to states – :::… The Tide News Online :::…


The federal government has started the process of disbursing the N 655.11 billion bridging loan to the states.
Minister of Finance, Budget and National Planning, Zainab Ahmed, informed the National Economic Council last Thursday that the bridging loan is now being processed by the Central Bank of Nigeria (CBN).
According to her, the loan will be disbursed in six installments over six months to the States.
Each of the 36 states, the minister said, is expected to receive a total loan of N18.2 billion, with a 30-year term and a 2-year moratorium at an interest rate of nine percent.
A statement issued by the Senior Special Assistant to the Vice President for Media and Publicity Laolu Akande also said the 36 states were to share new federal government support of 656 billion naira to N18b each.
According to the statement, the facility is to help states pay repayment of previous rescue facilities guaranteed to them by the federal government.
On July 15, the Federal Executive Council received updates on the State Budget Support Facility, where the Minister of Finance informed the Council that state government deductions would soon begin as reimbursement from the previous CBN bailout.
Subsequently, states sought additional support leading to the idea of ​​bridging funding.
Also speaking at the FEC meeting, the Executive Director of the National Agency for the Development of Primary Health Care, Dr Faisal Shuaib, briefed the Council on the status of the deployment of the Covid-19 vaccine in the country.
Shuaib revealed that Nigeria has received more than 100 million doses of Covid-19 vaccines from COVAX, the African Union and other countries, which he said were enough to scale up vaccination by around 50% of the target population.
“The total eligible population of Nigerians for the vaccine is over 111 million.
“Given the availability of vaccines, we have started rolling out a plan to immunize 50% of Nigerians aged 18 and over, but on January 31, 2022, there would be an expansion of over 3,000 health facilities across the country. nationwide, ”he said.


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