RIVERS STATE MISSES #66.5B COVID-19 FUND

The Fedral Government has announced the disbursement of 66.5 Billion Naira to 35 eligible states on the basis of the amended COVID-19 responsisve 2020 budget results achievment.

Acording to the Fedral Goverment, Rivers State was the only State that was not eligible for the financial grant.

The Minister of Finance Budget and Nation Planning, Zainab Ahmed announced that in a statement issued in Abuja by her Ministry’s Director of Press and Public Relations, Hassan Dodo.

Ahmed explained that the disbursement followed compliance with the amended COVID-19 responsive 2020 Budget by thirty-five eligible states in Nigeria.

She said the program was wholy-financed with a loan of Seven hundred Fifty Million Dollars from the International Development Association, a member of the World Bank Group, adding that each state received the total sum of one point nine billion Naira.

The Finance Minister said the disbursement was under the performance based grant component of the World Bank Assisted State Fiscal Tranceparency, Accoutability and Sustainability Programme for Results.

The statement explained that Rivers State was the only one that missed out on the grant due to its inability to meet the eligibility criteria.

She explained that the criteria required the states to have passed and published online on state’s website by July 31, 2020 credible fiscally responsible Amended 2020 Budgets duly approved by the State House of Assembly and assented to by the Gov