The Enugu State Government is to participate in the Federal Government’s Budget Support Facility of N14 billion, aimed at addressing the current economic challenges.
The Commissioner for Information, Dr Godwin Udeuhele, made this disclosure in Enugu on Friday while briefing newsmen.
He said that the scheme would afford the State Government some economic stability, as the the fund would be used to tackle its various financial problems in order to move the state forward.
“The State Executive Council has approved the participation of the state in the Federal Government’s Budget Support Facility to the tune of N14.16 billion.
“Our interest is sequel to a letter from the Federal Ministry of Finance, No. HMF/FMF/GOVs/FSP/BSF/1/2016, dated June 10, 2016, confirming its readiness to offer support to State Governments.
“This support will be drawn in three tranches from the federal allocation,” he said.
The commissioner said that the money would help the State Governments to meet their financial obligations such as payment of staff salaries, pensions and other sundry challenges.
“Enugu State is not alone in this arrangement, as all the 36 states of the federation have already keyed into it,” he said.
Udeuhele said that the support was not a bailout but another form of financial assistance to states by the Federal Government.
The commissioner said that the State Government was committed to any move that would bring succour to its workforce, as well as residents of the state.
He said that in view of the prudent way the bailout funds were utilised in the state, the current arrangement would also succeed. (NAN)