₦airaland Forum

The Plateau Government has secured N9.5
billion loan for payment of arrears of salaries
and pensions.
The Director of Press Affairs, Mr Emmanuel
Nanle, made the disclosure in an interview with
the News Agency of Nigeria (NAN) in Jos on
Tuesday.
“ We have secured a loan from a commercial bank
to pay salaries and pensions owed workers by the
last administration. We secured the loan in two
instalments.
“ The Gov. Smon Lalong administration inherited
seven months’ salary arrears at N1.7 billon per
month. We used the loan to pay three months
salaries arrears and also paid pensions claims for
two months totaling N1.2 billion ,’’ he said.
Nanle said that workers were currently being
paid another one month salary arrears, and
blamed the delay on the ongoing staff
verification exercise.
He, however, said that “ only one month
subvention ’’ had been received by the Lalong
administration since it came in May 29.
He said that the second month’s subvention
was trapped by banks on account of loans
government inherited from the previous
administration.
The director said the issue was being sorted
out so that the subvention would get into
government account.
Nanle said that the N9.5 billion loan secured by
the Lalong administration was being converted
into a Federal Government bond to avoid a
situation where future subventions would be
equally be trapped.
He clarified that the state had not received any
bailout from the Federal Government, and
explained that what it got was statutory
allocation from the Liquefied Natural Gas (LNG)
which also went into the payment of salary
arrears. Source: Www.viewpointnigeria.com

Loan upon loan.

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seasons of loans

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When states have to borrow to pay salaries... Smh!
Need to start streamlining workforces and ramping up IGRs...
A nation cant be sustainable when all of its states relies heavily on borrowings!