The federal government on Thursday said that five states had
met the 22 stringent conditions it stipulated for the 36 states of the
federation seeking to draw from the N90 billion budget support loan facility in
order to help them meet their obligations.
Akwa Ibom State Governor, Mr. Udom Emmanuel, who disclosed
this while briefing State House
correspondents at the completion of the
National Economic Council (NEC) meeting held at the Presidential Villa in
Abuja, said the loan would attract a nine per cent interest rate.
He however said that one state had declined to access the
loan, but did not disclose the identity of the five states that had met the
criteria to access the loan, nor the one that turned it down.
According to ThisDay, a presidency source who was privy to the
deliberations at the council meeting said Lagos was the state that turned down
the loan.
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