Paris Club: FG Reimburse Bayelsa, Rivers While Cross River, Ondo, Osun Waits

In Breaking News, Business & Economy, National News

By Patrick Obia

Bayelsa State has received NGN27 billion as part of refund from the Federal Government for federal projects it stepped in to salvage while Cross River, two others are yet to smile to the bank.

Alongside Cross River State, Ondo, and Osun are yet to be reimbursed by the Federal Government for salvaging federal projects since 2005 to date.

Cross River State Commissioner for Finance, Mr. Asuquo Ekpenyoong (Jnr) was contacted to know the status of the State, he is yet to respond.

The amount allotted to the five States in the promissory note is NGN148.14 billion: Bayelsa NGN38.40 billion, Cross River NGN18.39 billion, Ondo NGN7.82 billion, Rivers NGN78.95 billion and Osun NGN4.57 billion.

The Governor of Rivers State, Nyesom Wike had confirmed receipt of NGN78 billion, representing the amount spent on federal roads by the State.

These five States got the highest share from the NGN243.7 billion Paris Club refund, the approval for the issuance of NGN148 billion promissory notes was by the Senate.

Nairametrics reported in November 2020, that promissory notes worth NGN148.141 billion was approved by the Senate as refund to Bayelsa, Cross River, Ondo, Osun, and the Rivers States for projects executed on behalf of the Federal Government.

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