Federal Executive Council Approves Over $400m Loans For APC States

The Federal Executive Council (FEC) on Wednesday approved over $400 million foreign loans for Lagos, Rivers, Osun and Ogun states for the implementation of infrastructure projects.‎

The council however said the loans meant for All Progressi‎ves Congress (APC) controlled states, should not be seen as Greek gifts to sway votes.
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Minister of State for Finance, Bashir Yuguda, Ministers of Aviation, Osita Chidoka, Water Resources, Sarah Ochekpe and Education, Ibrahim Shakarau, jointly briefed State House correspondents at the end of the weekly FEC meeting.

Yuguda noted that Jonathan would not diminish his office with tribal or political sentiments, saying the president was desirous of bringing development to all parts of Nigeria ‎no matter who resides there or which political party runs the state.

Yuguda stressed that the President did not barred any minister from facilitating or assisting any state government in the processing of any development loans‎, which is why the latest credit facilities to these states were brought to FEC for deliberations and approval.

“Like we have been saying over and over again and Like Mr. President is saying over and over again. He is the President of Nigerians.  There is a distinction between governance and politics and Mr. President does not bring issues where they are not supposed to be situated.

“Now if we are improving the lives of the people of Port Harcourt or Lagos, these are Nigerians. So President is the President of Nigeria. He will not trivialize his office by neglecting one part of Nigeria because they don’t belong to PDP. That is not President Goodluck Jonathan.

“That is not what President intends to do and it is not what he is going to do if re-elected come March 28. What we are trying to say is that some of the opposition had been talking differently about this kind of approach.
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“I can remember two weeks ago, one of the governors, Governor of Oyo, was attacking the minister of state, FCT.

“There is no way Lagos state or Rivers state or any of these states can get this facility without the support of the Federal Government by the President and then through federal ministry of finance. (Thisday)