The presidency has said the correct figures of the total Federal Government support to states so far stands at N1.91 trillion and not N1.19 trillion as reported in some media reports. According to the senior special assistant media to the Vice President, Laolu Akande “, a breakdown of the disbursement comprises N876.3 billion for excess crude account loan and budget support facility while the balance of N1.034 trillion is for the Paris Club refund.”
LEADERSHIP recalls that Vice President Yemi Osinbajo had on Tuesday said that the federal government supported the 36 states of the federation with whopping N1.19 trillion as at September 2017. He said the funds were made available to enable the states meet the challenges of shortage of funds for the execution of programmes in their respective states.
Osinbajo who stated this in Lokoja, the Kogi State capital, during the maiden Kogi State economic and investment summit said the funds had enabled some state governments to embark on capital expenditures. According to him, the funds were made available through the excess crude account, the Paris Club refund, and loans, among others to the states.