The decision was arrived at during the regular meeting of the council, presided over by Vice President Namadi Sambo, at the Presidential Villa, on Wednesday.
Briefing State House correspondents after the meeting, Minister of State for Finance, Dr Yerima Ngama, said the facility would be procured by the Federal Government and then transmitted to the concerned states.
Cross Rivers State, according to him, would get $40 million for the Calabar independent power project, while Enugu State would also receive $40 million for the electrification of 96 communities, including supply of 33KVA and 15KVA lines, as well as the distribution of transformers and other accessories.
The minister said Kaduna State would receive $30 million to be utilised to augment the resources needed for the construction of the 70 kilometres transmission line from the Gurara Dam to Kaduna industrial area.
In addition, the money would be used for the construction of 132/33KVA substation for power supply to Kaduna industrial area just as 50 communities in the state would also benefit from solar electricity project.
According to the minister, the facility, coming at a concessionary rate, was taken at 2 per cent interest rate and would be repaid over a 10-year period with three years moratorium.
He, however, noted that there would be a commitment charge of 0.5 per cent of undrawn balance and 0.5 per cent for service charge.
Ngama remarked that the facility had already been approved by both the National Assembly and the respective state houses of Assembly in the medium term borrowing plan.
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