R
ECENTLY, the President Mohammed Buhari led Federal Government opened up a space for states to access a 30- year Financing Facility and for each state to borrow N18.22bn. This is in line with its plan to cushion the economic effect of coronavirus pandemic that ravaged the whole world, two years ago. Because the facility will not be available at once, but in tranches over a six (6)-
month period, as the drawdown period, some states are already bridging this gap through Bridge Finance, which will be taken out by this FGN facility. Although, the facility is supposed to be fiscal support facility, it is also available for financing of infrastructures included in the budgets of states. Lagos State government has disclosed that it will use the facility for Lekki- Epe road project (N15bn) and for its other regional roads
Review & Outlook FG’s N656bn Support Facility to States, Osun Borrowing Capacity And Matters Arising - Part 1 (N3.2bn). The state has also obtained its House of Assembly approval to take the loan. For Lagos state to add this to its pipeline of funding, which
had earlier been dominated by medium term bond issuance programs, it underscores the flexibility, the long term •Continued on Page 3
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How Federal Government is Cushioning effect of Corona Virus on Economies of States What’s the Global Best Practice on Borrowing? Is the state of Osun overborrowed? Is Oyetola in the knowing of the basis of Osun Borrowing Capacity and Plan?
FRIDAY,FEBRUARY 04 - THURSDAY, FEBRUARY 10, 2022 VOL 17 NO 04
•Again, Gunmen Attack Oranmiyan• House, Attempt To Set Building Ablaze •Spray Transformer, Glasses With Bullets •Throw Petrol-Soaked Bread Inside Building
•The bullet-riddled Oranmiyan building after gunmen attack, yesterday.
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Photo: Olushola Aderinto
Ikirun Attack: Victims Recount Ordeal, Say Thugs With “Oyetola’s Face Cap” Unleashed Mayhem •Gunshots At Baderinwa, Folorunso’s Houses In Ikirun, Iree Residents Give Prophet Quit Notice Over Alleged Sexual Molestation In Ido-Osun
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