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From Uchenna Inya, Abakaliki

The Federation Account Allocation Committee (FAAC) is to release the sum of N7bn per month, totalling N84bn in a year, to Ebonyi State for infrastructure financing, effective from May 2026.

The Commissioner for Information and State Orientation, Ikeuwa Omebeh, disclosed this to journalists during the State Executive Council press briefing.

Omebeh said each of the 36 states of the federation would equally get the same amount.

He said the N84bn infrastructure financing would enable the state to secure medium- to long-term financing using the FAAC receivables discounting programme supported by the Debt Management Office (DMO), Abuja.

“The Federation Account Allocation Committee (FAAC) in its meeting held on 20th February, 2026 reached a resolution to set aside the sum of Two hundred and fifty two billion naira (N252,000,000,000) monthly from the Federation Account for Infrastructure financing to the 36 States of the federation for a period of one year, effective from May, 2026.

“Therefore, the sum of seven billion naira (N7,000,000,000) per month for a total of 12 months, amounting to Eighty four billion naira (84,000,000,000), would be released to each of the States of the Federation.

“This will enable the State to secure medium to long term financing using FAAC receivables discounting programme supported by the Debt Management Office (DMO), Abuja.

“In view of this and following an invitation for Ebonyi State Government to participate in the FAAC receivables discounting programme for Infrastructure financing, EXCO approved as requested and accepted to queue into the receivables for 24 months as stipulated, and at 20% interest rate to the state”, Omebeh said.

Omebeh revealed that the state Governor, Francis Nwifuru, during the executive council meeting, took an in-depth analysis of policies, programmes and projects undertaken by his administration and agreed with an existing independent assessment of Ebonyi State performance based on statistics from independent assessors that, in the area of infrastructure, his administration has done its best, most especially as it concerns the number of kilometres of road projects, both ongoing and completed, while in the areas of other approved projects, there are some finishing touches remaining.

On a commissioner who resigned his appointment, Omebeh said, “Following the resignation of the Honourable Commissioner for Project Monitoring and Evaluation, Hon. Engr Felix Igboke, His Excellency, the Executive Governor of Ebonyi State, has directed that he hands over all government properties in his possession to the Permanent Secretary of his Ministry

“His Excellency accepted his resignation and wished him well in his future endeavours.”