TOP 10 STATE THAT BENEFIT FROM FG

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Top 10 STates thsfippa.comat Benefitted From FG's ₦457bn salary bailout funds

pulse.ngMar 25, 2024 8:17 PM

10 states have been listed as receiving the highest combined funds totalling about ₦168 billion from the CBN.

large borrowing, however, is attributed to the state's large number of civil servants

Oyo State, currently led by the PDP came in fourth place with a borrowing of ₦16.81 billion. The state, despite its size by population and its economic status, is still listed as a high borrower as it aimed to offset its fiscal responsibilities.

PDP-controlled Osun State came in fifth position with a loan amount of ₦15.93 billion. The state also sought help from the CBN to settle its salary obligation to its civil servants.

The Salary Bailout Facility (SBF) is an intervention developed by the Central Bank of Nigeria [Pulse]
The Salary Bailout Facility (SBF) is an intervention developed by the Central Bank of Nigeria [Pulse]

Edo state which is controlled by the PDP borrowed ₦15.76 billion to help with salary payments in the state

APC-controlled Benue State, despite its tag as the country's food basket, came sixth on the list requiring ₦15.7 billion to pay salaries.

Ondo State, currently led by the APC, came next with borrowing of ₦14.86 billion. Despite its huge agricultural potential, like other states, Ondo still depends on the CBN for help in offsetting its workers’ salaries.

Kaduna State came next with ₦14.47 billion. To stay in line and maintain stability in the civil service, the APC-governed state has turned to the SBF for help.

Abia State now controlled by the Labor party came in tenth position with an amount of ₦14.27 billion borrowed for salary payments.

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