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FAAC to release N7bn monthly for infrastructure financing in Ebonyi, others - BUSINESSDAY
The Federation Account Allocation Committee (FAAC) has approved the release of about N7 billion monthly to support infrastructure financing across Ebonyi and other participating states under a new development framework.
The initiative is designed to improve access to long-term funding for infrastructure projects including roads, housing, water systems, healthcare facilities, and industrial development.
Officials said the financing structure would help states accelerate capital expenditure implementation without depending entirely on commercial borrowing.
The programme reportedly involves collaboration between federal authorities, state governments, and development finance institutions aimed at strengthening subnational infrastructure delivery.
Ebonyi State was highlighted among the expected beneficiaries because of its ongoing investments in transport infrastructure, urban renewal, and industrial expansion projects.
According to the report, participating states are expected to channel the funds into economically viable projects capable of generating growth, improving employment, and increasing internally generated revenue.
The arrangement is also expected to reduce financing pressure on states facing high debt servicing obligations while enabling more predictable infrastructure funding flows.
