We Borrow N600 Billion Monthly to Augment Salaries - SGF Babachir

The Secretary to the Government of the Federation, David Babachir Lawal, while speaking at the opening ceremony of the 63rd General Church Council (GCC) of Evangelical Church Winning All,(ECWA)  revealed that the Federal government borrows an average of N600 billion every month to augment payment of salaries of workers.

Lawal who spoke at the ceremony held at ECWA headquarters yesterday April 12th in Jos said;

"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”