FG to resume deductions of state loans by May 2021

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By Francis Ogwo

The deductions from states monthly allocations by the Federal Government will continue in April 2021.

This was disclosed by the FG on Thursday at a virtual meeting of the National Economic Council presided over by Vice-President Yemi Osinbajo.

Recall that the monthly deduction based on the budget support facilities the states received from the Federal Government had earlier been suspended in the wake of the COVID-19 pandemic outbreak.

According to the information released by the spokesman of the Vice President, Laolu Akande, at the end of the meeting, which also included state governors, “The council also received monthly financial updates from the Federal Government where the governors were reassured that the suspended deduction (regarding the budget support facility to the states from the Federal Government) would remain until April next year.”

Further information from Akande revealed that the Director-General of Nigeria Centre for Disease Control, Chikwe Ihekweazu, briefed the council on the COVID-19 while noting that 28 states had declining figures in their testing rates with the positivity rate dropping to six percent from about 20 percent at the peak.

According to Akande, the NEC also received a presentation by the Minister of State for Education, Chukwuemeka Nwajiuba, on “Education in the new normal.”

The Minister said, “the new normal in education will require the use of distance learning programmes and open educational applications and platforms that schools and teachers can use to reach learners remotely and limit the disruption of education.”

Further information from the Minister of State for Budget and National Planning in Akande’s report to the council stated that “the under listed accounts as at September 15, 2020 are as follows: excess crude account balance: $72, 408, 743.16; stabilisation fund account balance: N43,603,048,431.80; natural resources development fund account balance: N138, 770, 528, 353.88.”

Kaduna State Governor, Nasir El Rufai, while briefing journalists at the end of the meeting, stated that the Federal Government has put in place some financial incentives to assist the states in implementing the education COVID-19 plan.

States that have qualified for the incentives, according to El Rufai, include Abia, Anambra, Akwa Ibom, Benue, Ebonyi, Jigawa, Kaduna, Katsina, Kebbi, Kano, Nassarawa, Niger, Plateau, Sokoto and Zamfara states.

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