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Nigerian states are broke says Governors' forum

20 May 2016, 21:41

Zamfara -  The Kaduna State Governor Nasir El-rufai has admitted that the 36 states are battling financial crunch, New Telegraph reports.

The governor made the revelation at the presidential villa where the state governors under the aegis of the Nigerian Governors’ Forum (NGF) met with officials of the World Bank.

El-Rufai said the money was part of the global bank’s portfolio for the states in 2016.

He said the funds have been lying idle for some time now due to failure of the state governments to provide counterpart funds to access the grant.

The governors have reactivated a process to access a World Bank grant of $3.25 billion for the funding of infrastructure.

Yari, who is the governor of Zamfara State, said he and his colleagues decided to invite the Country Director of the World Bank, Rachid Benmessaoud, who briefed them on the $3.25bn fund available in the bank, which largely belongs to the state governments but had not been accessed.

He said because of the cumbersome procedure for accessing the fund, most of the governors did not know that such existed in the bank according to Punch

- News 24


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