New Research Reveals States Using LGs To Increase Borrowing

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The Bill and Melinda gates foundation has expressed concerns over Nigeria’s economy following the rising use of local government’s councils as conduit pipes by states to incure more debts.
The associate programmes officer of the foundation in Nigeria, Chisom Okechukwu who expressed the concern in Abuja said the facts are contained in a 9-months long research carried out across the country in partnership with a research group; budget Nigeria.
The research tagged “state of the states” also reveals natural resources available for exports in each state of the federation, which have remained untapped due to over-dependence on oil

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