This was made known yesterday by the Minister of Finance and Coordinating Minister of the Economy Mr Olawale Edun during the National Economic Council (NEC) meeting at Presidential Villa, Abuja. The meeting was chaired by Vice President Kashim Shettima and attended by governors and other statutory members. Enugu State Deputy Governor Ifeanyi Ossai, who spoke to reporters on the issue after the meeting, said Edun reported that states owe N49,105,873,326.75 each.
It was discontinued partly because of the surge in revenue accruing into the Federation Account following the removal of petrol subsidy.Another reason for discontinuance of the BSF is the substantial outstanding liabilities accumulated by the states under the programme.The Federal Government opted to allocate a portion of funds from the federation account to settle the outstanding liabilities, thereby bringing closure to the programm