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No bail out for states, govs consider alternatives

BusinessDay
1 Min Read

States facing financial hardships have dropped the request for a bail out package from the Federal Government and decided to seek alternative means of funding.

The governors at a meeting with President Muhammadu Buhari sought for a refund of monies accrued to the states from the execution of Federal Government projects.

They also asked for an intervention on behalf of the states for an extension of the repayment period on debts totalling N658 billion loan owed by all states including the Federal Capital Territory. They asked for an extension of twenty years.

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