FG assures states on reimbursement of money spent on federal roads
…. Flooding: Affected states to receive succor from FG
The National Economic Council (NEC) has promised that the federal government would reimburse the states the money it spent on maintaining federal roads across the country.
Giving the promise at the NEC meeting held in the council chamber, the Vice President Yemi Osinbajo who presided over the meeting assured that all those who have followed the right procedures and due process would be refunded their expenses.
Briefing State House correspondents after the meeting, the Cross River State Governor, Professor Ben Ayade, stated that the meeting which was the fifth for the year, also took a look at the states being affected by flooding and what the federal
and state governments were doing about it.
Ayaded noted that the affected states would soon receive succor from the government.
He disclosed that the Excess Crude Account as at October 15 stood at 2.25 billion dollars.
Commenting on the provision of concessionary loans to the states, based on collaterisation of the Excess Crude Account, the governor said 27 states have made request for 10 billion facility as the application was being processed.
Ayade used the opportunity to call on the states to complete their documentations for the release of the money to them.
According to him, the CBN Governor was also given a brief at the NEC meeting on whether or not the NNPC and other agencies of government like NIMASA should be remitting revenues in naira as the investigations on the matter is ongoing.