We’re yet to receive bailout promised by Buhari, Govs cry out

36 state governors cried out, yesterday, over the worsening economic condition in the country and the failure of the Federal Government to give them the bailout funds promised by President Muhammadu Buhari.

The governors at their meeting which started Wednesday night and ended in the early hours of yesterday, complained that the comprehensive relief package designed by the Federal Government to salvage the economic crisis of
the states was yet to be given to them.

The governors also expressed concern over the exchange rate of the dollar to the naira as well
as other foreign currencies which has affected the nation’s economy.
They have, therefore, resolved to meet the President again over the issue. 12 of the 36 states of the federation were said to be owing their workers more than $550 million
in salaries and allowances, with some workers not paid for 7 months.
Briefing journalists after the meeting, chairman of Nigeria Governors’ Forum, NGF and Governor of Zamfara State, Abdulaziz Yari, said that the
Federal Government has not bailed out any state under the bailout arrangement as publicised,
stressing that what the state got so far was the monthly allocation from the Federation Accounts, Allocation Committee, FAAC and the dividends from Nigeria Liquefied Natural Gas,
NLNG.

Governor Yari said:

“This is also to inform our friends in the media that the Federal Government hasnot given any bailout to any of the states.
What had been shared the last time was monies from NLNG and FAAC. As we have been saying, rather than look out for bailout, we have been looking for all monies that are in the coffers of the federation to be brought together for the purpose of sharing.

“The CBN governor raised some issues that taking the monies from those accounts, most especially as our reserves are going down, will affect the exchange rate and as well put pressure on the naira.

So they decided to make the naira
available or its equivalent so that these can be taken as loan for some of the states that are complaining about payment of salaries.

“The Federal Government has, however, not given out any bailout yet. But we have been deliberating on how best the intervention will be done quickly so that we will be able to settle the issue of salaries and other operations of government in thecountry.” According to him, the resolutions reached at the meeting were: To discuss with Mr. President to seek lasting solutions to the worsening macroeconomic challenges confronting the nation, especially on foreign exchange stability. The forum pledges to
work with Mr. President to ensure coherent policy actions that will create a clear policy direction for the country and stimulate domestic
production and to collaborate with the Federal Government to ensure that the National Health Act is operational and the on percent funding for primary health care is provided for in the budget.

Comments

Post a Comment

Popular posts from this blog

Kehinde Smith launches My Extentionz in Lagos (photos)

Image
Well-known and respected US brand; My Extensionz, popular for the best quality exclusive raw virgin hair, has finally made its way to Lagos, Nigeria. Two young beautiful Nigerian twins Kehinde and Taiwo Smith own the brand and began the business 4 years ago when they noticed a lack of affordable quality extensions available in the market. “We pride ourselves in providing our customers with consistent access to a variety of unique and versatile products that lasts for years.” - Kehinde Smith, co-owner of  My   Extensionz My   Extensionz  has graced our screens internationally and locally on platforms such as BET, VH1, COOL TV, STAR GIST , and more and also boast of celebrity clients and celebrity ambassadors like Teyana Taylor, Yandy Smith, and many more.  My   Extensionz  provides tailored wigs, hair extensions, luxury clip-in hair extensions, silk/lace top closures and styling tools.   Currently operating a few retail locations in the U.S, one in Lagos
Read more

Open Letter to Nigerian Youths, 'Throw Away That Degree Or You Will Die Poor'- By Timothy Goma

Image
Written by “Timothy Rex Goma” below is your read! ''Throw Away That Degree Otherwise You Will Die Poor, Most of the educated people in Nigeria are poor. Majority of the educated earn less than N55,000 for a salary before tax and other deductions. When the deductions are put into consideration, the net salary comes to around N50,000. The net salary then suffers from loan deductions of up to N15,000 leaving the salary at around N35,000. The landlord then demands for his N15,000 and monthly shopping takes away N10,000 leaving one with a N10,000. The bus will demand for N300 going to and from work and relatives get another N2,500. The whole salary is gone and borrowed money starts operating. The borrowed money includes short loans and salary advances. The difference between poverty and prosperity is property. A prosperous person has property to his name while a poverty stricken person has no property to show. Using this understanding, therefore, most of the degree holder
Read more

Oshiomhole & wife at Femi Adeshina & Garba Shehu's NGE Honour

Image
  On Friday night August 21st, the Special Adviser to Pres. Buhari, Femi Adesina and Senior Special Assistant to the President Mallam Garba Shehu were hosted to a dinner party by the Nigerian Guild of Editors on their recent appointment. The event held at the Transcorp Hilton and was attended by Governor Adams Oshiomhole and his wife and other dignitaries. More photos after the cut...
Read more