Showing posts with label Debt. Show all posts
Showing posts with label Debt. Show all posts

Wednesday, 8 July 2015

Buhari Approves N413.7bn Bailout Funds for Federal Government, States

President Muhammadu Buhari has taken action to end the lingering crisis of unpaid workers’ salaries in the country, especially in several states of the federation, The Newly sworn in President  has approved a comprehensive relief package designed to salvage the situation.

In addition to the direct cash bailout, the three tiers of government will be sharing $1.7 billion from the Excess Crude Account (ECA), effectively emptying the account meant to shield the economy from exogenous shocks.