Wednesday, 15 July 2015

Nigeria To Use $1.8 Billion Of Gas Revenues To Cover Debts

Nigeria will share out $1.8 billion of liquefied natural gas (LNG) revenues between federal, state and local governments to cover a growing backlog of debt owed to workers across the federation, the finance ministry said late on Monday.

A state governor said last month (June) that collectively the states owed a collective 658 billion Naira ($3.3 billion) and have been unable to cover salaries.

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