Reports in sections of the media today that funds will be drawn from the Excess Crude Account for the relief package approved by President Muhammadu Buhari for states and local governments, are incorrect.


For the purpose of greater clarity on the matter, the measures approved by President Buhari to deal with the problem of unpaid public sector salaries in many states are as follows:

*The sharing of the $2.1 Billion dividend paid to the Federation Account by the Nigeria Liquefied Natural Gas Company (NLNG);

* A Central Bank-packaged special intervention fund that will offer financing to the states, ranging from N250 Billion to N300 Billion. This will be a soft loan available to states for the purposes of paying backlog of salaries; and

*A debt relief program designed by the Debt Management Office which will help states restructure their commercial loans currently put at over N660 Billion, and extend the life span of such loans while reducing their debt-servicing expenditures. The measures approved by President Buhari definitely do not include drawing down the remaining balance in the Excess Crude Account or the "liquidation" of the account as some media outlets have wrongly reported.

No such decision has been taken or approved by President Buhari, and last week's meeting of the National Economic Council clearly concluded that the Excess Crude Account should be left untouched at this time.

FEMI ADESINA
Special Adviser to the President
(Media & Publicity) July 7, 2015

http://www.metronaija.com/2015/07/presidency-denies-plans-of-sharing-17.html

cc lalasticlala

Why always me
Was this First to Comment made for me?
Why do I find it so easy?

I dedicate this wonderful feat to my husband and want to use This opportunity to congratulate him on his new job as a cleaner in Maiduguri Central Mosque.

Relocation plans are on ground. Please join me and celebrate this wonderful testimony.







National Issues are more important than wearing pampers to visit cows and post pictures on Facebook.




First to Komment

The Wailing wailers won't like this one bit..

confused man suffering from

senile dementia

cc: lalasticlala

Useless PDP fighters have been misleading the public since morning 07-07-2015

- on radio
- in newspaper
- online & social media
- on TV e.g AIT

Sai Buhari

dnt jz bliv anything u hear or see dz days

Always denying and disowning.

In baba we trust. Keep making Nigeria better

Wetin con be my own

*sigh... can it get any better?

One news today, another different news on the same topic the next day... smh.

Chai!
1.7 Billion Dollars? 1.7 Billion Dollars??
Chai
From 25 Billion Dollars that OBJ left before he handed over
God will punish J0nadaft and all his clique that almost bankrupted this country.
Chai! J0nadaft is wickeeeeeeeeed

k

Baba Bubu

You wan share money without Finance Minister.

You say GEJ no leave money for treasury, where you dey see money wey una dey share without finance minister to account for it?

Is this why you sacked the NNPC ogas and put your people there?

There is God o.

you kidding?
Why has he not addressed the issue of incessant killings

Is this the way PDP wants to play the Opposition?

Okay

Singing..... Since i was born and now dat am getting old...... i have never seen a dull being like #baba1chance

One tin 2day
Anoda 2moro......

We are watching d drama unfold

Fowl yansh don open, and e go dey open dey gooo oooooh!

Since BUHARI took over all we have seen is bombing, d dullard remove military check points allowing boko haram to move freely and be bombing every where.... buhari God would visit u in due time, may your family have no peace until Nigerians can sleep in peace.... kunu drunkard FU*CKTARD , father of child fu*ker. everyday is how to nd how not to share money we hear... his leaving his brothers that he gave bombs to be killing innocent people.

baba abeg no start again o,how come you wan share money without finance minister?

And the discordant tune continues ...


Lai Muhammed, as APC media publicity secretary said the multi-pronged package approved by President Buhari includes the sharing of $1.7 billion out of the $2 billion remaining in the ECA ...


www.vanguardngr.com/2015/07/apc-hails-buhari-for-ending-workers-misery/

Where is that TANoid called ifeduba.

DO YOU HAVE A SUPPLY /CONSTRUCTION CONTRACT OF ANY SORT FOR SALE? OR YOU WANT A FIRM OR SOME ONE TRUST WORTHY TO STAND IN FOR YOU IN ABUJA? CALL 08035406273

I'm tired reading one news today and tomorrow they deny the same news
I hope they will not deny the Ukraine export of weapons to Nigeria
This BH need to be dealt with once and for all. No negotiation

season of denial..

that's how APC plans to rule for the next 4 years

interesting!