Reps Approve ₦148bn Refund To Five States

The House of Representatives, on Wednesday, approved the request of President Muhammadu Buhari to refund a sum of ₦148.14 billion to five states.

The approval was given by the House at the plenary on Wednesday. The Senate had granted the same request earlier on Tuesday.

The sum was meant for projects executed by the states on behalf of the Federal Government.

Read also: Senate Approves Issuance Of N148BN Promissory Notes For 5 States

The House, on Wednesday, considered and adopted the report by the 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.”

According to the report, the promissory notes programme and bond issuance was to settle outstanding claims and liabilities of the five states.

Bayelsa will get ₦38.4bn; Cross River, ₦18.39bn; Ondo, ₦7,82bn; Osun, ₦4.56bn; and Rivers, ₦78.95bn.

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