Presidential relief package not
drawn from Excess Crude
Account, says FG
By betta blog
The Presidency on Tuesday denied that the
fund for the relief package meant for sharing
among states and local councils was drawn
from the Excess Crude Account (ECA).
Special adviser to the President on Media and
Publicity, Femi Adesina, said in a statement
that the relief package was from funded partly
from the “dividend paid to the Federation
Account by the Nigeria Liquefied Natural Gas
Company (NLNG).”
Adesina explained that the Central Bank
would also provide intervention fund “that
will offer financing to the states, ranging from
N250 Billion to N300 Billion. This will be a
soft loan available to states for the purposes
of paying backlog of salaries.”