We Borrow N600 Billion Monthly to Augment Salaries- FG

Secretary to the Government of the Federation,
David Babachir Lawal, says the Federal
government borrows an average of N600 billion
every month to augment payment of salaries of
workers.
Lawal said this while speaking at the opening
ceremony of the 63rd General Church Council
(GCC) of Evangelical Church Winning All (ECWA)
held at ECWA headquarters in Jos yesterday
April 12th.
"The federal government borrows an
average of N600 billion monthly and
Federal Government gets N130 billion,
and sometimes if it is lucky, it gets N200
billion from Federation allocation, and we
have an expenditure profile of roughly
N800 billion to N900 billion. Naturally,
you need to augment sources from
everywhere and from wherever you can
find it. I’m talking about local borrowings,
not international. There are ways and
means to raise the money, because the
monies coming from the Federal
allocation is not enough and the figures
is not fixed; it varies from month to
month, depending on what enters into the
treasury and our own share of it
federation account, just like the states.
You remember Osun state got N55million
in a month from the federal allocation
and the state has a salary bill of over N4
billion in a month”he said