We Have Not Received Bailout Fund Promised by Buhari - Governors Cry Out

 

Governors of the 36 states of the federation cried out, on Thursday, July 23, over the intensfying financial crises in the country.

 

According to them, the Federal Government is yet to release to them the bailout promised by President Muhammadu Buhari sometime ago.

 

The governors, who operate under the aegis of Nigeria Governors’ Forum, NGF, at their meeting which started Wednesday night, July 22 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 get 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.

 

It will be recalled that President Buhari had approved a $2.1 bn intervention package to help bankrupt states pay salaries. Twelve 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 seven months.

 

Briefing journalists after the meeting, chairman of 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 has not 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".