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Nairaland Forum / Nairaland / General / Politics / Five States Meet Conditions For N90Billion Federal Bailout (47014 Views)
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Five States Meet Conditions For N90Billion Federal Bailout by ricsman(m): 8:17pm On Jun 16, 2016 |
Five states have completed processes to access the federal government’s N90 billion credit, Governor Udom Emmanuel of Akwa Ibom said. The money is to be disbursed in two tranches, with an initial N50 billion released in three months and another N40 billion in nine months, and will be shared among qualified states at a 9% interest rate. Kemi Adeosun, finance minister, had said the rationale behind the proposed facility which she said was not a bailout, was to assist the states to balance their portfolios. The government had on Wednesday announced 22 conditions states must meet to access the funds. Briefing journalists Thursday after the National Economic Council meeting chaired by Vice President Yemi Osinbajo, Mr. Emmanuel said Mrs. Adeosun briefed the council on the credit. “Five states have completed the process for borrowing from the budget support loan,” the governor said. He did not give names of the states. “It is just to make this available; it is not compulsory. What is important is can people have access to a lifeline, you see what is happening today is not peculiar to Nigeria as a country, you know the impact of the fall in crude oil price that has actually gotten to oil producing countries like Nigeria. “What we are looking at is what are the solutions, we must provide a lifeline for people to survive and to move on, I don’t think it’s too much,” Mr. Emmanuel said, adding that it was too early to list states who have accessed the funds as more may either accept or decline. “It doesn’t actually mean that states which will take this money do not have something accruable also from the federal government. Pending the time we reconcile our book, the federal government may have some balances to settle the state government. But in the meantime we accept this while we are waiting for those reconciliations to be concluded,” he said. The deputy governor of Kaduna state, Bala Bantex, minister of trade and investments, Okechukwu Enelamah, and the Special Adviser on Social Interventions to President Muhammadu Buhari, Maryam Uwais, attended the briefing. Many Nigerian states are currently facing difficulties and are unable to pay salaries, a result of the plunging oil price. One of the conditions for accessing the fund is that beginning December 2016, states must publish their financial statements, budgets and the quarterly budget performance within nine months of financial year end. The economic council was briefed by the Central Bank governor, Godwin Emefiele, on the new forex rate policy adopted by the bank. Mr. Emmanuel said the council lauded the move noting that it would help the economy and ease access to forex. “We should be the better for it,” he said. http://www.premiumtimesng.com/news/top-news/205404-five-states-meet-conditions-n90-billion-federal-bailout.html |
Re: Five States Meet Conditions For N90Billion Federal Bailout by OlujobaSamuel: 8:22pm On Jun 16, 2016 |
so give us list of the state, why must it be hidden. I hope my state is also among the five, aregbe should better shey normal. 7 Likes 1 Share |
Re: Five States Meet Conditions For N90Billion Federal Bailout by 1trillionlikes: 8:37pm On Jun 16, 2016 |
I pray ondo state is among 3 Likes |
Re: Five States Meet Conditions For N90Billion Federal Bailout by ricsman(m): 8:37pm On Jun 16, 2016 |
OlujobaSamuel:have u read all ![]() 2 Likes 1 Share |
Re: Five States Meet Conditions For N90Billion Federal Bailout by yarimo(m): 8:38pm On Jun 16, 2016 |
Still typing |
Re: Five States Meet Conditions For N90Billion Federal Bailout by OlujobaSamuel: 8:40pm On Jun 16, 2016 |
ricsman:abeg no mind dem, dey no give us the list jare. |
Re: Five States Meet Conditions For N90Billion Federal Bailout by ricsman(m): 8:41pm On Jun 16, 2016 |
yarimo:Hope u are typing the five States name ![]() |
Re: Five States Meet Conditions For N90Billion Federal Bailout by Nobody: 8:44pm On Jun 16, 2016 |
Five states are qualified to be fed again. I wonder if they won't go hungry again after this round of food. 7 Likes |
Re: Five States Meet Conditions For N90Billion Federal Bailout by chikel2000(m): 8:45pm On Jun 16, 2016 |
Anambra n lagos will never be there, all dis mumu governors sef 15 Likes |
Re: Five States Meet Conditions For N90Billion Federal Bailout by Nicholas007: 8:46pm On Jun 16, 2016 |
ricsman: I think Ekiti and four other state 5 Likes 1 Share |
Re: Five States Meet Conditions For N90Billion Federal Bailout by ricsman(m): 8:47pm On Jun 16, 2016 |
bejeiodus:u can't stop eating mum thank u until u start providing for urself. #truefederalism |
Re: Five States Meet Conditions For N90Billion Federal Bailout by ricsman(m): 8:52pm On Jun 16, 2016 |
Nicholas007:Ekiti can never be there.... Gov. Fayose said no to TSA...which is one of the conditions 29 Likes |
Re: Five States Meet Conditions For N90Billion Federal Bailout by mankan2k7(m): 9:17pm On Jun 16, 2016 |
Only a transparent state can key into it. I doubt if Fayose can key into such reason is that he is a deceiver 34 Likes |
Re: Five States Meet Conditions For N90Billion Federal Bailout by omowolewa: 9:28pm On Jun 16, 2016 |
I hope they spend it well, because their children will ask questions. 1 Like 1 Share |
Re: Five States Meet Conditions For N90Billion Federal Bailout by Wolexdey(m): 9:37pm On Jun 16, 2016 |
The States don't have names? ![]() 1 Like |
Re: Five States Meet Conditions For N90Billion Federal Bailout by Partisan: 9:40pm On Jun 16, 2016 |
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Re: Five States Meet Conditions For N90Billion Federal Bailout by Nobody: 9:41pm On Jun 16, 2016 |
k |
Re: Five States Meet Conditions For N90Billion Federal Bailout by NigerDeltan(m): 9:43pm On Jun 16, 2016 |
Aregbe nko? |
Re: Five States Meet Conditions For N90Billion Federal Bailout by VIPERVENOM(m): 9:43pm On Jun 16, 2016 |
One thing's for sure, ekiti isn't one of them 1 Like |
Re: Five States Meet Conditions For N90Billion Federal Bailout by lonelydora: 9:43pm On Jun 16, 2016 |
Is it possible Abia State is among? Why hid the names? |
Re: Five States Meet Conditions For N90Billion Federal Bailout by Olukokosir(m): 9:44pm On Jun 16, 2016 |
1trillionlikes:Mimiko wnt .. Na idiot 1 Like |
Re: Five States Meet Conditions For N90Billion Federal Bailout by JBismarck(m): 9:45pm On Jun 16, 2016 |
FG shouldn't be father Xmas by spoon feeding these states. If any state cannot meet its obligations, it should be merged with other states. 1 Like |
Re: Five States Meet Conditions For N90Billion Federal Bailout by Flexherbal(m): 9:45pm On Jun 16, 2016 |
After sharing the resources of states to private individuals, state government are now looking for bailout fund up and down. |
Re: Five States Meet Conditions For N90Billion Federal Bailout by Ndavenger(m): 9:45pm On Jun 16, 2016 |
javajavascript:void(0);script:void(0); |
Re: Five States Meet Conditions For N90Billion Federal Bailout by virginboy1(m): 9:46pm On Jun 16, 2016 |
.I have a feeling that Benue state is among. Moreover these governors should learn from Anambra State. On the contrary between Oshomole and Obansanjo who fine pass? |
Re: Five States Meet Conditions For N90Billion Federal Bailout by Karm16: 9:46pm On Jun 16, 2016 |
Abia should be amongst. 1 Like |
Re: Five States Meet Conditions For N90Billion Federal Bailout by techmart(m): 9:47pm On Jun 16, 2016 |
I pray for Oyo and Osun 2 Likes 1 Share |
Re: Five States Meet Conditions For N90Billion Federal Bailout by Emmaoga: 9:47pm On Jun 16, 2016 |
and yet they keep on saying there is no money. |
Re: Five States Meet Conditions For N90Billion Federal Bailout by Karm16: 9:47pm On Jun 16, 2016 |
I pray for Enugu. Kano emir don buy that state. 1 Like 1 Share |
Re: Five States Meet Conditions For N90Billion Federal Bailout by donsteady(m): 9:47pm On Jun 16, 2016 |
What kind of game is this? Common names of the state you can't give? What are you Hidding ? 1 Like 1 Share |
Re: Five States Meet Conditions For N90Billion Federal Bailout by EazyMoh(m): 9:47pm On Jun 16, 2016 |
Ekiti, Bauchi and Bayelsa should be among. Those states' salary backlog na die! 1 Like |
Re: Five States Meet Conditions For N90Billion Federal Bailout by martineverest(m): 9:48pm On Jun 16, 2016 |
H 2 Likes 1 Share |
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