The Presidency has clarified the nature of the N573 billion recently disbursed to Nigerian states, emphasizing that the funds are a World Bank loan guaranteed by the Federal Government, not a grant as some may have believed.
The clarification comes after Oyo State Governor Seyi Makinde and Niger State Governor Abdullahi Sule recently stated that they did not receive any money from the Federal Government, apart from the World Bank loan.
This clarification was provided by Temitope Ajayi, Senior Special Assistant to the President on Media and Publicity, who underscored that the focus should be on how the funds can contribute to the country’s development rather than on the semantics of whether it is a loan or a grant. Ajayi described the issue raised by these governors as a matter of semantics, reiterating that the funds had indeed been disbursed to the states.
Ajayi said;
“I think the issue is not whether it is a loan or grant. The point, as clearly stated in the President’s broadcast, is that the states got money. The amount, which is the second tranche under the COVID-19 livelihoods support scheme under the NG-CARES Programme funded by the World Bank, is N570 billion. “The fact is states are getting needed support and funding to improve the lives of the people.
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