Olalekan Adetayo, Abuja

NEC faults Obaseki, says N60bn not printed to shore up March allocation
Minister fixes May date, CBN explains technical challenges in further shift
State governors on Thursday at the monthly meeting of the National Economic Council appealed to the Federal Government to postpone the repayment of the $2.1bn budget support facility to states which was scheduled to resume in May.
But the Governor of the Central Bank of Nigeria, Godwin Emefiele, kicked against the appeal and enumerated the technical challenges involved should there be a further postponement of the deductions.

The Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande, disclosed these in a statement issued at the end of the council’s meeting presided over by Vice-President Yemi Osinbajo.
Akande said the Vice President thereafter directed that a meeting be held where the issue would be properly considered and a decision reached.

For long, Nigerian states have been depending on federal allocations as a result of low Internally Generated Revenues.
The situation had been made worse with crash in revenues realised from the nation’s major export – crude oil.
As a result, most states had resorted to borrowing with a recent report by the Fiscal Responsibility Commission indicating that the subnational governments had overstepped their limits.

The report said, “It can be deduced that all the 36 states and the FCT exceeded the Debt Management Office threshold of 50 per cent.
“Lagos State accounted for the highest Debt-to-Total Net Revenue as at the end of 2019, with 712.94 per cent. Osun State came second with 650.94 per cent Debt-to-Total Net Revenue. While Cross River and Ogun States were third and fourth with 597.36 per cent and 402.30 per cent respectively.”

The statement read, “On the budget support facility, finance minister observed that the deductions for repayment by states are meant to resume in May.
“The governors however requested for an extension considering the economic challenges in the states.

“The central bank governor explained the technical challenges involved should there be a further postponement of the deductions.
“The Vice President then directed that a meeting be held soon after today’s NEC where the issue would be properly considered and a decision reached.

“The VP will chair the meeting and the governors will be represented by Governor Kayode Fayemi, while the finance minister and the central bank governor both of whom attended the meeting today will also participate.”

Akande said the council also received a presentation on the current status of water, sanitation, and hygiene services level across the country as revealed by the 2019 WASH National Outcome Routine Mapping survey jointly carried out by the Ministry of Water Resources and National Bureau of Statistics in collaboration with UNICEF.
He said the survey revealed among others that 28 out of 36 States plus FCT have urban water utilities out of which only 16 are functional and producing water for the people.

“The functional 16 state water agencies have a total number of 1,171 water works of which 41 per cent is operational,” he said.
He said the Minister of Aviation, Hadi Sirika, also made a presentation on National Aviation Infrastructure Development Plan.

The minister was qouted as listing his ministry’s key performance indicators to include concession of four international airports – Lagos, Abuja, Port Harcourt and Kano; implement a plan for effective maintenance and optimal use of all airport facilities across the country; and ensure and facilitate the establishment of a national carrier among others.
Akande said the council resolved that the minister should make available copies of the presentations to states so that the council would have a fuller understanding.
He said the council also received presentation on progress report on rail development from the Minister of Transportation, Rotimi Amaechi.

He qouted the minister as listing the key challenges to include inadequate funding, operational challenges, security and legal issues.
Akande added that the Minister of Finance, Budget and National Planning, Zaynab Ahmed, gave the update to council on the different accounts as of April 22 as Excess Crude Account – $72.41m; Stabilisation Account – N23. 3bn; and Natural Resources Development Account -N77.74bn.

NEC faults Obaseki, says no N60bn was printed
The council also said there was no truth in the allegation that the CBN printed N60bn to augment March’s federal allocation.
Edo State Governor, Godwin Obaseki, had made the allegation which had since been denied by the CBN; Minister of Finance, Budget and National Planning, Zainab Ahmed; and the Progresives Governors Forum among others.
Rising from its monthly meeting on Thursday, NEC which has all state governors and relevant ministers as members, claimed that the allegation was false.

The council’s resolution was made public in a statement by the Senior Special Assitant to the Vice President on Media and Publicity, Laolu Akande, titled ‘OVP Flash: No money was printed to shore up March allocation, NEC affirms’.

The statement read, “Having received presentations from the Minister of Finance, the Central Bank Governor, and the Nigerian Governors’ Forum, the National Economic Council has affirmed that there was no printing of N60bn or any other amount whatsoever to shore up allocation for the month of March as wrongly insinuated recently in the press.

“The governors, having critically reviewed the matter, took the position today (Thursday) at the meeting of NEC chaired by Vice President Yemi Osinbajo.

“Today’s meeting attended by many of the state governors, FCT minister and the Central Bank Governor also had in attendance the finance, transport, information, aviation and water resources ministers.

“The Minister of State for Budget and National Planning also attended.
“The council expressed satisfaction with clarifications made by the NGF represented by its chairman, Governor Kayode Fayemi of Ekiti State, finance minister, Hajiya Zainab Ahmed, and the Central Bank Governor, Mr Godwin Emefiele, on the alleged printing of N60bn by the Federal Government.”

Akande added that both the
minister and the CBN governor stated to the council that the allegation of printing of money to augment allocation was outright false.
According to him, the NGF also supported the conclusion and NEC affirmed same as the highest constitutional body tasked with economic affairs in the country.

The presidential aide on the resolution of security concerns in parts of the country, said the council unanimously affirmed the unity of Nigeria and adding that it would adopt the report of the national town hall meeting on national unity and security held recently in Kaduna.
He said, “The council, while welcoming the outcome of the town hall meeting, urged all states to hold wider consultations across the country and report back to NEC the outcome of the meetings.”

After this, a national consensus would be reached on the recommendations which included the adoption of state police among other matters, he added.

https://punchng.com/govs-beg-fg-to-postpone-2-1bn-support-repayment-cbn-kicks/?amp

A

Funny people, they disowned Obaseki because they didn't want to pay loan refund

Pay your debt...

It's not that you people can point out to what tangible things you have done with the money.

Awon Onigbese

CBN should not listen to them. They should fucking pay up. We’ve all agreed it’s bad for CBN to support government at this time. So, let everybody play by the rules going forward.

Obaseki has gone to run his mouth and reminded Governor without state that the governors with states are owing money.

With time I've come to realize something.... black people have no business running their own country.

And so?

Good

Some of those states would be completely useless to themselves peradventure there is a succession. These oiye regions keep bailing a lot out.

Ok Sha.. face 2face

This is a case of dog eats dog. FG infuriated because their secret was exposed and the next is for states to pay for negligence. Let's see how this will pawn out, FG cannot continue to play oshrich.

Most States are already sold off, waiting for the buyers to take possession. No means of viable IGR, can't create means of state productivity harnessing available resources. only dependence on FG allocation.

They didnt remember when they are collecting these so called embezzled "bail out funds" with gusto.No to pay back nah wahala.I guess they will want to push up tax return to shore up revenue in order to pay?

Mynd44:
Obaseki has gone to run his mouth and reminded Governor without state that the governors with states are owing money.

Lol
Now this is funny!
God bless and save Nigeria.


This particular post puts you on EXACTLY 120,000 on NL!
#RESPECT

All of us @MANNA should get there after some couple of years from now, God's willing.
Long live Nairaland!

For some reason my d*ick decided not to respond to this useless news. All these unfortunate idiots calling themselves Politicians are just elite clowns.

I can say this anywhere, our Politicians can easily afford to run the economy, it's only that the funds are diverted to their friends and family. If you think am lying just ask the UAE, UK, Switzerland and other places the bastards stash Nigeria's money, now they are crying there is no money, who do us this thing na.

When you become a politician you are set for life, except you don't have a working brain. Nigerian politics is a cashout avenue and these people are just using us for a cruise.

Buhari, where is all our money!!!

Just because they were exposed,that is the reason why they are taking this action. Wicked government that hate hearing the bitter truth. I pity those that brought in this wicked government.

Obaseki closed that loophole.. that is why the scramble.

Hope Obaseki nor dey owe sha?

Until we have people that can think of generating funds without having to think of borrowing all the time before we truly move forward. Why would these guys always borrow at the slightest hitch?

PDP, its supporters and Obaseki will print money and pay up the debt. As for Governor without a State, he will collect his money back, we can't allow beneficiaries of the debt to push it to another term when it won't be their problem.

Oluwamarc:
Olalekan Adetayo, Abuja


https://punchng.com/govs-beg-fg-to-postpone-2-1bn-support-repayment-cbn-kicks/?amp

lie lie government

Mynd44:
Obaseki has gone to run his mouth and reminded Governor without state that the governors with states are owing money.

Lol I was expecting from the report an elaboration of what the governor without state meant by this

"The central bank governor explained the technical challenges involved should there be a further postponement of the deductions."

I guess it's his way of holding the governors with state by the balls if one of their own doesn't recant his statement

This governors.

Check Jarali nk . com for all your free trials.

Obaseki should kukuma use those alleged 60billion fakely printed to settle his debt na. That man is an immatured fool. Even if d government did that, is he suppose to be telling us? Are they not all part of the government, is he not suppose to work n close ranks with the FG n other governors to move d nation forward? What kind of stupid opposition is he playing that is bereft of ideas n wisdom?If a governor like wike had said something similar to what this ungrateful fool had said, we all would have paused and given it a thought because we all knew his antecedents and who exactly he is.
And even as much as I disagree with Wike over certain issues, but I can't help but agree that the man is a courageous man of his words who truly has the interest of his people at heart

Money have missed road

This our system of government can never work...

Governors are never accountable for anything

Let them pay money. They all delight in spending easy / free money... While denying the population the rights to their collective wealth

Banana Republic