Politics FG approves N40bn loan for Lagos State Govt. - PM News


The Federal Government has approved a N40 billion loan facility for #Lagos State Government for the development of infrastructure and education in the state, Minister of Information, Mr Labaran #Maku, said.

Maku made the disclosure on Wednesday in Abuja when he briefed State House correspondents on the outcome of the weekly Federal Executive Council (FEC) meeting, presided over by President Goodluck Jonathan.

He said the approval followed a memo brought to the Council by Dr Ngozi #Okonjo-Iweala, the Coordinating Minister of the Economy and Minister of Finance, seeking approval to obtain additional credit facility from the International Development Association (IDA).

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Source: #PMNews