The National Economic Council (NEC) presided over by Vice President Yemi Osinbajo has assured State Governors that the Federal Government would reimburse the cash spent on maintaining federal roads across the country.
He said that all those who have followed the right procedures and due process would be refunded their expenses.The assurance was given at the NEC meeting which held in the council chamber.
Briefing State House correspondents after the meeting, the Cross River State Governor, Professor Ben Ayade, said that the meeting which was the fifth for the year, also took a look at the states being affected by flooding and what the federal and state governments were doing about it.
He said that the affected states would soon receive succour from the government.
He also said that the Excess Crude Account as at October 15 stood at 2.25 billion dollars.
On the provision of concessionary loans to the states, based on collaterisation of the Excess Crude Account, 27 states have made request for the ten billion facility and that the application was being processed.
He called on the states to complete their documentations for the release of the money to them.
The CBN Governor was said to have also given a brief at the NEC meeting on whether or not the NNPC and other agencies of government like NIMASA should be remitting revenues in naira.
According to him, investigations were still ongoing on the matter.
