FG to raise N758b bond for pension liabilities – Edun

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun has disclosed that the Federal Government is set to raise about 758 billion naira through the Debt Management Office for pension liabilities. Edun told State House Correspondents after the Federal Executive Council (FEC) meeting presided over by President Bola Tinubu that the money […]

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun has disclosed that the Federal Government is set to raise about 758 billion naira through the Debt Management Office for pension liabilities.

Edun told State House Correspondents after the Federal Executive Council (FEC) meeting presided over by President Bola Tinubu that the money is to clear up the backlog of pension liabilities owed various categories of pensioners.

The Minister explained that he presented a large number of memos for approval, “a lot of them to do with completing or implementing, the draft borrowing plan, which is yet to be finalized, but will be implemented during the course of the year, after finalization.

Speaking on the approvals, he also highlighted a 30 million Euro financing long term concessional financing by a French Development Agency, which is Supporting Student Housing in conjunction with family Homes Fund limited as the partner and implementer.

He explained that the loan is for student tertiary accommodation throughout the country to provide sustainable and clean energy based accommodation for students.

On the economic growth, the Minister said approval has been given for the all important National Single Window Project.

He said the technology providers, the hardware suppliers, have been approved for implementation of the project.