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Nigeria's minister of finance and coordinating minister for economy is reportedly blocking states from getting funded by banks; Lagos state Governor, Babatunde Fashola has disclosed.
The Peoples’ Democratic Party-led federal government’s “uncoordinated and inconsistent” management of fiscal and monetary policy levels has exacerbated the nation’s economic problems, Babatunde Fashola, the Lagos State governor, has said.
While appearing before the state’s lawmakers Tuesday to push for an amendment to the 2015 Appropriation Law on Tuesday, Mr. Fashola said that his administration’s rigorous thinking had protected Lagosians from the PDP’s “amateurish” management of the national economy.
“Today the Honourable Minister for Finance, if any honour still attaches to her actions, has stopped Nigerian banks from funding state governments because of elections, as if the needs of the people for roads, healthcare, drugs, education and security has stopped,” Mr. Fashola said.
“She has insisted that in spite of individual appraisals of each bank by their credit committees, all state request for funding by banks must be approved by her Ministry.
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SOURCE: #PremiumTimes
The Peoples’ Democratic Party-led federal government’s “uncoordinated and inconsistent” management of fiscal and monetary policy levels has exacerbated the nation’s economic problems, Babatunde Fashola, the Lagos State governor, has said.
While appearing before the state’s lawmakers Tuesday to push for an amendment to the 2015 Appropriation Law on Tuesday, Mr. Fashola said that his administration’s rigorous thinking had protected Lagosians from the PDP’s “amateurish” management of the national economy.
“Today the Honourable Minister for Finance, if any honour still attaches to her actions, has stopped Nigerian banks from funding state governments because of elections, as if the needs of the people for roads, healthcare, drugs, education and security has stopped,” Mr. Fashola said.
“She has insisted that in spite of individual appraisals of each bank by their credit committees, all state request for funding by banks must be approved by her Ministry.
Click here to read more
SOURCE: #PremiumTimes