The 36 state governors  of Nigeria yesterday, raised fear over the worsening economic condition of the country. The governors also lamented the delay on the part of the federal government  in releasing the bailout to the various states of the federation.

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 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.

“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 the country.”
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.

Source: http://nigeriainfohub.com/bailoutstate-governors-laments-f-g-delay-on-release-of-bailout-fund/

Ok

Vg

Hopefully, their next meeting with the President will yield better results. I pity what some governors have turned Nigerian labourers into.


Before I commented, there were 3posts and 1view. How dafuq is that possible?

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Mushin Ile Epo Isale ONE more CHANCE.

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So it was all 'Wash' just to score cheap Political point.

Now the real story don come out.
Make FG answer Shey dem say no be from ECA?
1000 likes for the Governors for Using their heads like Agali.

They need to settle the campaign loan, the thing is on compound interest.

F.Govt should appoint a manager for each disbursements, the bail out fund has a purpose, its not just national cake. Thatz how you do for bankrupt entities.

But is there any law compeling state or federal govermnement to pay salaries? NO!
So, no law, no crime, no impeachment.