Ebonyi State Government says it has received certificate from the Federal Government for contributing over 1.8Million Dollars into Sovereign Wealth Fund representing its share from the Excess Crude Account.
The State Commissioner for Finance, Deacon Obinna Nwachukwu made this known while briefing newsmen at the end of the State Executive Council Meeting at Government House Abakaliki.
At a joint News briefing, Deacon Nwachukwu explained that about two hundred and fifty Million Dollars was borrowed from the Excess Crude Account by the Federal, States and Local Governments and transferred to Sovereign Wealth Fund.
He explained that certificates were issued to participating tiers of Government and were aimed at saving for the future generation. Deacon Nwachukwu says that the State Government has resolved to borrow money from Bank to pay workers salary for the month of July as the nation awaits the conclusion of the Federation Account Allocation Committee meeting.
The State Commissioner for Works and Transport, Mr Fidelis Nweze announced that the State Government had inaugurated a four man Committee to liaise with serving Federal Lawmakers in the State to ensure that critical projects in the area were captured in the 2019 Federal Budget.
He said the State Government took the decision to address the failure to capture projects in the State in Federal Budgets in the last three years. The Senior Special Assistant to the State Governor on Project Monitoring, Mrs. Uchechi Okah told newsmen that the State Government applied to the Federal Ministry of Environment for a certificate on Environmental Impact Assessment for the construction of Abakaliki Ring road.
Mrs Okah added that the road design would equally be approved by World Bank and urged the people of the State to support the project.