Ebonyi State House of Assembly has given Gov¬ernor David Umahi the nod to access another N14.16 billion bailout from the Federal Govern¬ment.
Governor Umahi, in a letter to the House, ex¬plained that the Federal Government, through the Minister of Finance, Mrs. Kemi Adeosun, of¬fered the state the fund as a conditional bud¬get support facility. House Leader, Joseph Nwaobasi read the letter on the floor of the House on Tuesday.
He disclosed that gover¬nor Umahi, in the corre¬spondence, noted that the offer, if accessed, would help cushion financial challenges facing his ad¬ministration.
Nwaobasi also ex¬plained that the state executive council had considered the offer and given their support for which reason he brought it to the House for ap¬proval.
He moved a motion urging members to sup¬port the governor’s re¬quest as the facility came at the right time when the country was faced with economic hardship.
Seconding the motion, Deputy Speaker, Odefa Obasi Odefa urged his col¬leagues to give their sup¬port to the governor given the numerous projects the governor was handling across the state, adding that the N14.16 billion fa-cility was going to help in no small measure.
Speaker Francis Nwif¬uru, after listening to members’ contributions thanked the Federal Gov¬ernment for giving such support to states in the face of the present eco¬nomic predicament, and said the facility will cush¬ion financial challenges facing most states of the Federation.
