Five states in Southern Nigeria will soon get the N148.14 billion refunds promised them by the Federal Government as both chambers of the National Assembly have signed off on the refund.
The House of Representatives approved the refund at plenary on Wednesday as requested by the Muhammadu Buhari presidency, a day after the Senate did same.
It was meant to repay the states for projects executed on behalf of the Federal Government.
The House signed off on the request having considered the report of its Committee on Aids, Loans and Debt Management on the “Promissory notes programme and bond issuance as refund to Rivers, Bayelsa, Cross River, Osun and Ondo states governments for projects executed on behalf of the Federal Government.”
The report noted that the promissory notes programme and bond issuance was to settle outstanding claims and liabilities of the five states.
Recall that Minister of Works and Housing, Babatunde Fashola said earlier in the month that Rivers State had yet to get the refund despite its approval by the President in June 2020 because the National Assembly was yet to approve it.
As approved by both chambers of the National Assembly, Osun is to get N4.56 billion; Ondo, N7.82 billion; Cross River, N18.39 billion; Bayelsa, N38.4 billion; and Rivers, N78.95 billion.
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