Just In : Presidency Reveals FG Bailed Out States With N2 Trillion
According to the Presidency, the Muhammadu Buhari administration provided more than N2 trillion in state government bailouts.
According to Newsmen, Femi Adesina, the president’s special adviser on media and publicity, revealed this in a statement on Sunday.
The presidential adviser said that the bailout packages were a result of the successes the Buhari-led government had made during his eight years in power in several fields.
According to Adesina, the purpose of the bailout was to help state governors meet their pay and pension responsibilities, particularly in light of the declining oil earnings.
According to the study, the state governments received N614 billion in budget support assistance, $5.4 billion in Paris Club refunds, N700 billion in infrastructure loans and refunds, and a N575.5 billion reduction in the cost of debt servicing.
The anti-corruption campaign of the Buhari administration, according to the president, has recovered more than N210 billion from overstated, misappropriated, and improperly used personnel budgets and capital expenditures by various government agencies.
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) reported N91 billion in recovered stolen assets in 2022, it was further said.
MURIC Asks Buhari To Give Bailout Funds To Herdsmen To Acquire Land In Southern Nigeria For Grazing
According to the study, more than N600 billion in Sukuk Bonds have been raised for more than 40 important road projects across all six geopolitical zones since 2017.
“Between November 25 and December 13, 2021, the Federal Government handed over to benefiting communities 941 km of completed Sukuk road projects connecting 10 states in five geo-political zones of the country,” it added.
According to the report, the Dangote Group, MTN, BUA, NLNG, and NNPC Limited have mobilized or committed roughly N3 trillion under Executive Order 7 for road projects throughout all six geopolitical zones.
The Order, which was issued by President Buhari on January 25, 2019, permitted businesses that were willing and able to invest their own money in building essential roadways to recoup their expenses by making lower tax payments over time and in an open and accountable manner.
