Fed Govt support states with ₦1.91 trillion – Osinbajo
The Federal Government has so far disbursed a sum of ₦1.91 trillion to various states in form of financial supports, Vice President Yemi Osinbajo has said.
According to Osinbajo, who stated this Tuesday in Abeokuta, Ogun State, while declaring open the Ogun State Investors’ Forum 2018, the financial supports, which included the Anchor Borrowers Programme (ABP); social investment intervention; budget support facilities and fertilizer intervention programme, was the Federal Government’s lifeline to help states cope with shock of drop in the crude oil price.
The forum, fourth in its series, had in attendance, former Mexican president, Felipe Calderon, Ministers of Finance and Agriculture, Kemi Adeosun and Audu Ogbeh, private sector representatives, captains of industry and investors, both local and foreign.
The VP noted that the President Muhammadu Buhari-led administration regarded every state in the country, irrespective of its political leaning, as a partner in progress, adding that the adminstration would continue to support states to reach their potential.
He said: “On our part, the Federal Government will continue to do everything within our power to support every state in Nigeria to reach its full economic potential. It is gladdening to note that Ogun has been consistently enthusiastic in its reception of our hand of cooperation. In recent history, I must say that it would be difficult to point to a government that has been more supportive of the development of the ambition of states as the Buhari administration. We’ve been especially attentive and responsive to their needs and wishes and have treated state governments, regardless of partisan affiliation, as partners and not as minions.
“So far in terms of support, including the Paris Club refund, which, of course, the states owed, we have spent so far ₦1.91 trillion on support to the various states of the federation of Nigeria. A significant number of our programmes and policies have been designed with the states in mind. Our ABP that provides cheap credit and input to smallholder farmers; the presidential fertilizer initiative that has revived the domestic fertilizer industry and delivered cheaper fertilizer to our farmers.
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