N573b fund: Presidency replies governors
The Presidency cleared the air yesterday on the controversy over the N573 billion received by states.

It said the fund is a World Bank loan, which the Federal Government guaranteed, and not a grant.

It explained that the issue of whether it was a grant or a loan should not be at the centre of discussion but rather how the money can assist in the country’s development.
The clarification was made through a Senior Special Assistant to the President on Media and Publicity, Temitope Ajayi.
He 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.
“The World Bank facility is guaranteed by the Federal Government because every multilateral loan must have a sovereign guarantee.
“This means the loan will be repaid by the Federal Government in case the sub-nationals are unable to.
“There should be no hue and cry by any governor really if the objective is to serve the people and make life better for the masses.
“The President is elected to make life better for citizens the same way the governors are elected to do the same in their respective states.
“President Tinubu will continue to work to expand the economy and enable shared prosperity for all Nigerians.
“He considers the governors as partners in progress and the job of nation-building.
“What can’t be denied is that the states have more resources to deliver better service to the people, especially in critical areas of education, healthcare, security and physical infrastructure like roads among others.”
Ajayi described the issue as more than just semantics, explaining that the payment was the second tranche, with the first paid in October or November last year.

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Keep on mortgaging this nation. After no be today una begin collect loans

Featuredgist:
N573b fund: Presidency replies governors
The Presidency cleared the air yesterday on the controversy over the N573 billion received by states.

It said the fund is a World Bank loan, which the Federal Government guaranteed, and not a grant.

It explained that the issue of whether it was a grant or a loan should not be at the centre of discussion but rather how the money can assist in the country’s development.
The clarification was made through a Senior Special Assistant to the President on Media and Publicity, Temitope Ajayi.
He 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.
“The World Bank facility is guaranteed by the Federal Government because every multilateral loan must have a sovereign guarantee.
“This means the loan will be repaid by the Federal Government in case the sub-nationals are unable to.
“There should be no hue and cry by any governor really if the objective is to serve the people and make life better for the masses.
“The President is elected to make life better for citizens the same way the governors are elected to do the same in their respective states.
“President Tinubu will continue to work to expand the economy and enable shared prosperity for all Nigerians.
“He considers the governors as partners in progress and the job of nation-building.
“What can’t be denied is that the states have more resources to deliver better service to the people, especially in critical areas of education, healthcare, security and physical infrastructure like roads among others.”
Ajayi described the issue as more than just semantics, explaining that the payment was the second tranche, with the first paid in October or November last year.

Continue reading on
https://featuredgist.com/n573b-fund-presidency-replies-governors/

Exactly.

This is the problem with the worthless governors in Nigeria, they think they are emperors and uncountable public officials.

What difference does it make where the money came from? The FG gave you money to take care of your people, but they are playing games and semantics. Does it mean you won't spend the money on your people as directed just because it's a World Bank loan?

The state governors are the most crooked, corrupt, and weakest link in Nigeria, they collect IGR, allocations every month, and loans left and right to take care of their people, but still, nothing to show.

Unfortunately, the average Nigerian citizens are so clueless, that they think the FG is responsible for everything in their lives when in fact it's the responsibility of the governors, they collect funds every month to take care of their people.

And when they do their silly protests, they go to the FG as if the FG is collecting and spending their state allocations.

Unserious people

And the idiotic president shouldn't have stated so; that it was a loan from the World Bank rather than chest beating that the FG gave the states N573 billion to cushion the economic hardship they (FG) brought upon the people!

Idiots in power!