The state governors have made a fresh demand of bailout funds from President Muhammadu Buhari.
The governors represented by Governor Abdulaziz Yari of Zamfara state urged the president to ensure the release of the 50% of the Paris Club loan refund.
The governors said the fund could be used to cushion the budgets of the state governments in 2018.
During the meeting which was held at the Presidential Villa with President Buhari, the Zamfara state governor said the federal government's intervention through the bailout funds were utilized by the state governments.
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He also said most of the governors inherited a backlog of unpaid salaries and huge debt portfolios from their predecessors and are trying their best to manage the resources made available to them.
Yari also said part of the funds were being used by the state governments to alleviate the workers challenges.
He said: “Our mission here is simple. We are here to thank Mr. President for his concern about the state of the economy and for giving us several supports, ranging from bailout, restructuring our debts, Paris Club exit payment.
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“We also told him that we think that it was because of his decision to grant us bailouts and pay the refund of the Paris Club loan that many Nigerians are criticising him; this is the reason why we got out of recession."
He also said the Nigerian Governors' Forum hopes that both the Debt Management Office, the Ministry of Finance, Attorney General of the Federation, and other consultants are concluding the reconciliation process.
He said: “So, we want to crave your indulgence so that we can factor the numbers into our 2018 budget, so that we can use it for projects and other recurrent spending according to the specification given by our respective Houses of Assembly; and that’s why we are here.
“Mr. President was prompt being that he has a representative in the National Economic Council; that is the Vice-President, and the minister of finance is away. We are going to work on the numbers when he (Buhari) returns from his trip. We are going to follow up this meeting with him so that we can conclude on what is going to be done next."
source:
https://www.naij.com/1130873-state-governors-demand-fresh-bailout-buhari.html