Nasarawa Secures N1.8b Loan to Pay November Salary

By Dipo Olowookere

In order to pay the November 2017 salary of those on its payroll, the Nasarawa State government says it will secure a loan of N1.8 billion from local sources.

Speaking on Thursday during a Joint Account Allocation Committee (JAAC), Nasarawa State Commissioner for Local Government and Chieftaincy Affairs, Mr Haruna Osegba, stated that commercial banks were willing to provide the credit facility to the state government.

He said the money, when finally secured, would be used to offset November salaries of its workers, emphasising that modalities for getting the loan were already in place.

“As a responsible government, despites lack of money, we have to look inward to enable us to pay our workers more so that we are in Christmas period,” he said.

Mr Osegba explained that the loan became necessary due to the inability of the Federal Account Allocation Committee (FAAC) to share money for the month of November as a result of exigencies.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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