Governor Seyi Makinde of Oyo has revealed that the N570 billion released to governors was not a bailout from President Bola Tinubu’s administration to the 36 states to expand livelihood support to citizens across the country.
In a nationwide broadcast on Sunday following the #EndBadGovernance protests that grounded activities in major cities of the country, Tinubu explained that his administration had released more than N570 billion to states.
“Also, more than N570 billion has been released to the 36 states to expand livelihood support to their citizens, while 600,000 nano-businesses have benefitted from our nano-grants. An additional 400,000 more nano-businesses are expected to benefit,” the president claimed as Nigerians protests on the streets against hunger and corruption.
On Thursday, Makinde explained that the N570 billion were part of the World Bank-assisted NG-CARES project, a programme for results intervention aimed at helping states to recover from the ravages of the COVID-19 pandemic.
“Let me state categorically that this is yet another case of misrepresentation of facts. The said funds were part of the World Bank-assisted NG-CARES project—a programme for results intervention.
The World Bank facilitated an intervention to help States in Nigeria with COVID-19 Recovery. CARES means COVID-19 Action Recovery Economic Stimulus. It was called ‘Programme for Results’ because states had to use their money in advance to implement the programme.
“After the World Bank verified the amount spent by the state, it reimbursed the states through the platform provided at the federal level. The federal government did not give any State money; they were simply the conduit through which the reimbursements were made to states for money already spent,” the Oyo governor pointed out.
Acknowledging that the World Bank fund was a loan and not a grant to the states, Makinde explained that each state of the federation is expected to repay the loan adding that the NG-CARES, which was christened Oyo-CARES predated the present federal administration.
“So, in direct response to the message, the federal government did not give Oyo state any money. We were reimbursed funds (N5.98 billion in the first instance and N822 million in the second instance) we invested in the three result areas of NG-CARES, which includes inputs distribution to small holder farmers within our State.
“In fact, when the World Bank saw our model for the distribution of inputs preceded by biometric capturing of beneficiary farmers, they adopted it as the NG-CARES model,” Makinde stated.
