The Federal Government announced that N8 billion loan has been released to thirty six states in the federation to be accessed as bonds through the Nigerian stock exchange.

Mrs Kemi Adeosun, the Minister of Finance stating this in a meeting with commissioners of finance from the thirty six states of the federation emphasised that the credit facility is aimed at developing a broad based and people oriented economy.

Adeosun explained that the N8 billion will be accessed by the states in two phases upon fulfilment of a 22-point reform agenda outlined in a fiscal sustainability plan aimed at repositioning Nigeria’s economy on the path of sustainable growth.

“Every state remains a centre of prosperity and as a result the federal government is developing a broad based economy with productive activities in every region and state especially in their areas of comparative advantage. In achieving this states must begin to look inwards while partnering with the private sector.”

Jigawa State Commissioner for finance assured the Federal Government that the states are re-strategising to achieve economic diversification.