Local Economy: FG To Borrow $750 Million On Behalf Of States

 Local Economy: FG To Borrow $750 Million On Behalf Of States

The Federal Government is planning to borrow $750 million on behalf of the States to stimulate Local economy in Nigeria.

The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, made this disclosure in Abuja on Friday, November 13, 2020, at the inauguration ceremony of the Federal Steering Committee of the Nigeria COVID-19 Action Recovery and Economic Stimulus.

According to her, the Federal Government will use the loan to stimulate local economy and support vulnerable household’s consumption, adding that the Government is considering the cause and consequences of civil unrest and COVID-19 in the country.

Atinúkẹ́ Ṣeun-Ìgè

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