HomeNewsBUHARI’S $29.9 BN LOAN: AKWA IBOM FAILED TO MAKE LIST

BUHARI’S $29.9 BN LOAN: AKWA IBOM FAILED TO MAKE LIST

December 13, 2016

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Not fewer than seventeen states of the federation are to benefit from the 2016/2018 Medium Term Development Plan of the Federal Government which is expected to be financed from the $29.9 billion loan being sought by President Muhammadu Buhari.

The states, according to a document sighted by The Nation on Monday in Abuja, include Kaduna, Ogun, Borno, Yobe, Adamawa, Gombe, Delta, Imo, Plateau, Bauchi, Anambra, Ekiti, Lagos, Ebonyi, Abia, Katsina and Jigawa.

However, Akwa Ibom State failed to make the list of benefiting states.

It was learnt that $364million of the loan will also be used for financing Nigerian Electricity Transmission and Access Project, $500 million for Social Inclusion and Welfare Advancement project while $300million will go to Power Sector Guarantees Project to guarantee investors’ fund.

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