The Benue State Government says it has secured an N84 billion debt swap deal from the Federal Government to drastically reduce the overall debt burden of the state.
The Benue State Commissioner of Finance, David Olofu who made this known at the end of the State Executive Council, SEC, meeting presided over by Governor Samuel Ortom in Makurdi said the feat was achieved through a debt swap agreement initiated by the Nigeria Governor’s forum.
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State Commissioner for Finance David Olofu gave an insight into the debt cancellation deal which should help the incoming administration Start on a clean slate.
Olofu also highlights the Federal Government’s interventions accessed by the State Government under the Ortom-led administration.
An initiative of the Governor’s forum decided that since states are owing the Federal Government and vice versa they should come together and reach an agreement for reconciliation, refund, or debt swap.
The state government opted for the latter.
(Editor: Ena Agbanoma)
