The Federal Government Staff Loan Board yesterday said its budgetary provision in 2023 was insufficient to meet the huge requests for housing loans by federal government workers.
The Executive Secretary of the Board, Ibrahim Mairiga stated this when he appeared before the Senate Committee on Establishment to defend the board’s 2023 budget. Mairiga said the Board had to depend on a paltry N2.5bn in the Service Wide Votes.
He said the money could only cater for 200 people against a total of 35,000 applications valued at roughly N67bn.
The chairman of the committee, Ibrahim Shakarau, said the committee would look for ways to increase the purse for the Board, admitting, however, that it might be extremely difficult to achieve.
Similarly, the National Salaries and Wages Commission raised concern over paucity of funds which, it said, had rendered it “incapacitated” to effectively carry out its mandate.