Fidelity bank banner Bayelsa State banner
FG disburses N50 billion loan to states

By News Express on 23/09/2016

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 1,149


The Federal Government has so far disbursed N50 billion support loan facility to state governments.

The Minister of Finance, Kemi Adeosun, disclosed this in her presentation to the National Economic Council (NEC) meeting Thursday.

The minister said the disbursement of the facility was still going on.

She also put the balance in the Excess Crude Account at $2.453 billion as at September 20, 2016.

Adeosun further told the council that the government targeted initial amount of N500bn to create a blended pool of long term funds to intervene in housing development finance and mortgage provision

She said this was aimed at delivering family housing priced from as low as N2.5 million up to N18 million in a- ready-to-occupy condition with essential services (water and power connected), putting the delivery target at 400,000 to 500,000 housing units per annum.

According to her, the ultimate aim of the programme is to channel funds from savers to borrowers so that builders have the required capital to construct and prospective buyers can access credit to purchase.

She said the fund would attract low cost local and international capital including from domestic pension and insurance funds, federal government’s funding as well as contributions from state governments and other agencies.

The spokesman of the vice president, Laolu Akande, said the CBN Governor and the Minister of Finance jointly made a presentation on best options for managing the current floating forex policy.

Akande gave the highlights of the presentation thus: “The CBN introduced cautious monetary policy orientation as dictated by consumer price and exchange rate; adoption of policy tightening measures for flexible forex rate to address persistent pressures occasioned by scarcity and speculative demands; improving market dynamics by CBN, interventions to states in the area of salaries and in commercial agriculture.”

He said the presentation also noted that controlling inflation is key to stabilising other macro-economic indices and that the current stance of monetary policy “is expected to continue to help lock-in inflation expectations.” (Daily Trust)

•Photo shows Kemi Adeosun.

 

Source News Express

Posted 23/09/2016 05:31:49 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25 minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
Police trail ‘one-chance’ tricycle, taxi cab operators in...

Pictured: WHITE WIDOW fingered in Abuja bombing that...

FG loses faith in Public Property Recovery Panel,...

Shelve your visit to Kano, police authorities warn...

Replicate NLNG model to increase gas sector opportunities...

How NNPC is short-changing Nigerians — Governors’ Forum...

EFCC Chairman slammed with contempt charge, risks imprisonment...

NEITI: NNPC owes FG $9bn NLNG dividends

92-year-old ardent Buhari supporter not abandoned —APC

Boko Haram cease fire a welcome development —Arewa...

Buhari drags governors to Aso Rock to brainstorm...

African, Asian, Latin American Ministers Meet to Develop...

 

Latest News Adamawa APC lawmakers defect to ADC Buhari orders immediate repatriation of Nigerians stranded in Russia Two jobless men get N1m bail over stolen phones Ekiti polls: PDP refutes allegation of N5b donation to Fayose Heavy rain damages Russia’s World Cup stadium The benefits of ACFTA for Nigeria huge, says Osinbajo FRSC, NNPC downstream strategise on plan of action for haulage operators Gunmen kill 14 civilians in northeast Mali village Kemi Adeosun: A reputation worth its weight in gold, By Ebun Asagbe Imo State Deputy Governor and the impeachment stories, By Kenneth Uwadi In Ekiti, stomach infrastructure has changed hands, By 'Fisayo Soyombo Hoodlums attack Police Commissioner

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (361,365 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (358,021 views) Shameless Genevieve Nnaji exposes breasts in public (286,329 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (234,989 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (214,143 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (212,376 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (186,144 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (168,112 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (156,154 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (152,461 views) Lagos plane crash: Journalist releases victims’ names (147,382 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (138,648 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (52) Business & Economy (3,344) Business Verdict (45) Columnists (886) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (516) Features (614) Global Business Monitor (284) International (2,130) Interview (157) Live Commentary (28) Love Matters (127) News (37,174) Opinion (1,024) Pidgin (10) Politics (5,578) Religion (783) Sports (1,611) Stock Watch (33) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

FRANCE vs CROATIA 4-2 Highlights & Goals 2018

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement