Home Politics Gov Makinde Clarifies N570bn Released to States by FG
Politics

Gov Makinde Clarifies N570bn Released to States by FG

Share
Gov Makinde Clarifies N570bn Released to States by FG | Daily Report Nigeria
Share

Governor Seyi Makinde of Oyo State has provided clarity on the N570 billion released to states, revealing that it was not a handout or bailout from the federal government.

In a recent address, Makinde explained that the funds were part of the World Bank-assisted NG-CARES project, aimed at supporting states in recovering from the COVID-19 pandemic.

The NG-CARES program, which stands for COVID-19 Action Recovery Economic Stimulus, was a loan facility provided by the World Bank to help states implement specific projects and programs.

According to him, each state is expected to repay the loan, and that Oyo State has already received reimbursements for funds invested in the program.

READ ALSO: FG Warns NLC, TUC: Stop Interfering in Labour Party Affairs

The governor disclosed that the NG-CARES program predates the current federal administration and that Oyo State’s implementation of the program, known as Oyo-CARES, has been successful.

He mentioned that the World Bank has even adopted Oyo State’s model for input distribution to smallholder farmers as the NG-CARES model.

Makinde’s clarification comes after President Bola Tinubu’s announcement that his administration had released over N570 billion to states to expand livelihood support to citizens.

Tinubu’s statement was made during a nationwide broadcast addressing the #EndBadGovernanceInNigeria protests that took place in major cities across the country.

 

Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles
Takeme Reaffirms Commitment to Sustenable Development in Burutu LG | Daily Report Nigeria
Politics

Takeme Reaffirms Commitment to Sustenable Development in Burutu LG

The Executive Chairman of Burutu Local Government Area in Delta State, Dr....

Wike Dispels Rumours of Collapse, Calls Out Political Opportunists | Daily Report Nigeria
Politics

Wike Dispels Rumours of Collapse, Calls Out Political Opportunists

Minister of the Federal Capital Territory, Nyesom Wike, has denied reports that...

Ighodalo Heads to Appeal Court as Tribunal Upholds Okpebholo's Victory | Daily Report Nigeria
Politics

Ighodalo Heads to Appeal Court as Tribunal Upholds Okpebholo’s Victory

The Edo State Governorship Election Petition Tribunal has upheld the election of...

Okpebholo and Ighodalo
Politics

Edo Election: Okpebholo Victorious as Tribunal Upholds Election, Discards PDP’s Petition

Okpebholo declared valid winner of the 2023 election by Abuja Tribunal. Tribunal...