NewsExpress advert Yudala banner
FG bails out states with N1.19trn

By Friday Idachaba on 14/02/2018

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

Views: 723

•Vice President Osinbajo
•Vice President Osinbajo

Vice President, Prof. Yemi Osinbajo on Tuesday said the Federal Government supported the 36 States with about N1.19 trillion as at Sept. 2017 for the execution of various programmes.

Osinbajo, who disclosed this in Lokoja during the maiden Kogi State Economic and Investment Summit, said the intervention was to enable the states address paucity of funds for execution of programmes.

He said that the funds which were made available through the Excess Crude Account, Paris Club refunds and loans among others had enabled some state governments to embark on capital expenditures.

Osinbajo explained that some of the funds were legal entitlements of the states to which they legally had access, while others were loans to be repaid.

The vice president noted that the present administration had the highest capital expenditures in the last two years, owing to the on-going roads construction across the country, railway lines and hydro power projects.

He described the summit as timely, saying it came at the time the country was involving ways to reduce its dependence on oil and increase its non-oil income with the promotion of agriculture and the abundant solid mineral resources in the country.

Osinbajo said that Kogi was strategically located and endowed with vast mineral resources that could make it a hub of production and commercial activities, a feat the summit aimed to achieve.

Also speaking, Gov. Yahaya Bello said the summit was packaged to alter the status of the 27-year old Kogi from “a civil service state to an industrialised one.”

He said his administration had in the last two years prepared the ground for economic and industrial breakthroughs for the state by solving problems that had inhibited the economic growth of the state.

Bello said the state was presently safe for investors and investments, adding that the problem of security had been tackled headlong.

“We are shedding the toga of a civil service state to an economic and commercially viable one and we want investors to collaborate with us and contribute to the prosperity of the state.

“Kogi State is now open for business, we want to be signing Memorandum of Understanding (MoUs), I invite the private sector to collaborate with us in our bid to develop the state, Kogi state is ready for serious business,” he said.

Bello also used the occasion to appeal to Christians, particularly, the Catholic Bishops to ask forgiveness for disrespecting them.

“To all of my Christian brethren, I apologise for any way in which I have hurt your sensibilities.

“I also pray my August Guest today, His Excellency the Vice President to help convey to our Christian leaders and brethren all over the world that I would never dream of disrespecting them. I hold all faiths in high regard,” he added.

Dr Kayode Fayemi, the Minister of Solid Minerals Development in his presentation, said the bulk of the revenue of Kogi ought to be internally generated based on the abundant mineral resources in the state.

He, however, said mining was not a business that should be tied to the tenure of any executive as it was a long term investment that would outlive the two-term maximum tenure of any executive. (NAN)

 

Source News Express

Posted 14/02/2018 12:54:39 AM

 

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


 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

 

You may also like...
‘Stubborn’ pirate nabbed for tapping Multichoice TV signals...

Senate condemns attack on Nigerians in South Africa,...

Umahi to dualise Abakaliki-Afikpo federal highway

200 families, international agencies, health experts for Benola...

Why Council Polls Can't Hold In Abia Now...

Akwa Ibom Govt. demolishes illegal structures

Fayose accuses Fayemi of diversion of N853m and...

Adieu, Uche Chukwumerije; Bold, bright, brilliant, highly principled...

UNICEF makes venture capital investments in emerging market...

Transport owners end strike, reach truce with Bayelsa...

30 killed in Boko Haram ambush in Adamawa,...

Nigeria sliding towards one party state — HURIWA...

 

Latest News Lagos Pastor who survived Badoo attack slumps and dies during church service Boko Haram suspect nabbed in Edo Resign if you can’t pay workers, TUC tells governors Enugu EXCO awards N1.04bn road contracts Troops kill 5 Boko Haram fighters, capture commander Lagos police gives 2 wks to pump action riffles owners to verify, re-validate licence India offers free breast implant, surgeries Nigeria building Africa’s biggest Free To Air TV platform, says Minister Air Peace breaks record with delivery of new B777 aircraft Shortage of workers threatens Trump’s economic agenda CDHR condemns abduction of Dapchi school girls, calls for intensive rescue efforts Emefiele dedicates Silverbird Award to CBN staff •He is a humble, silent achiever — Akpabio

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (326,883 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (318,863 views) Shameless Genevieve Nnaji exposes breasts in public (255,514 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (209,591 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (195,120 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (188,229 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (163,937 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (147,216 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (140,696 views) Lagos plane crash: Journalist releases victims’ names (129,984 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (128,644 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (123,495 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (34) Business (2,908) Business Verdict (34) Columnists (806) Complaints & Requests (94) Enterprise & Opportunities (203) Entertainment (447) Features (549) Global Business Monitor (226) International (1,806) Interviews (143) Live Commentary (28) Love Matters (105) News (33,102) Opinion (885) Pidgin (10) Politics (4,522) Religion (684) Sports (1,440) Stock Watch (28) AMA & Al Jazeera Global Update

 

 

Football president George Weah puts Liberian army to the test

 

APO Group Partner

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement