Vice President Osinbajo says Federal Government supported states with 1.19 trillion naira in 2017

Vice President, Professor Yemi Osinbajo has said the Federal Government supported the 36 States with about 1.19 trillion naira as at September 2017 for the execution of various programmes. Professor 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. Also speaking, Governor Yahaya Bello said the summit was packaged to alter the status of the 27-year old Kogi from “a civil service state to an industrialized one.” The Minister of Solid Minerals Development, Dr Kayode Fayemi 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.