Skip to main content

Buhari Approves N522b To States For Payment of Salary and Pension Arrears

Nigeria President Muhammadu Buhari has reacted to the current economic situation in the country by releasing some cash to state government to off set its back log salary and pension arrears.


President said, “I have approved the disbursement of 522 billion naira to the State Governments, to enable them pay salary and pension arrears, and put money in the economy.”
The President further added that, “we have stipulated that at least 50% of the funds should be dedicated to salaries and pensions, and we will audit disbursements to ensure compliance.”
The Ministry of Finance is currently processing the first batch of 153 billion naira, which, I am told, will be released to 14 States.

The Ministry will provide more details on how the funds will be disbursed and how we will monitor the utilization to ensure that Nigerians receive the full benefits from their State Governors.
“As I said in my Independence Day Speech, I firmly believe that this recession will not last,” Buhari added.

Further more, concern with the economic crunch in the country, President Buhari said, “we should not allow our temporary problems to blind us from the corrective course this administration is charting for Nigeria. We know what our challenges are and we are working very hard to provide solutions that will last.”
The first batch is expected to be disbursed within the coming days to the first 14 states selected to receive the disbursement.


Comments

Post a Comment

Popular posts from this blog

Return Nigeria’s Stolen Assets, SERAP Urges Trump

Socio-Economic Rights and Accountability Project (SERAP) has urged the President of the United States of America (USA), Donald Trump, to attach and release to Nigeria, some $500 million worth of US-based proceeds of corruption traced to former Nigerian dictator, late General Sani Abacha. SERAP, which made this request in an open letter it send to the US President, also urged President Trump to initiate discussions with the Nigerian government to fulfill these objectives within an agreed framework and timeline. The organisation in the letter dated 3 February 2017 and signed by the organization’s US Volunteer Counsel Professor Alexander W. Sierck and executive director Adetokunbo Mumuni, also wants the Trump’s Administration to instruct the Justice Department to initiate civil asset forfeiture proceedings in regard to the $500 million in assets. SERAP further stated, “these proceeds are separate from the $480 million of Abacha-origin funds that have been forfeited to the US...
Post a Comment
Read more

Record signing, Oscar lands in Shanghai to join SIPG

 Brazilian midfielder Oscar landed in Shanghai on Monday where the 25-year-old was set to smash the Asian transfer record with a reported 60 million euros ($63 million) deal with Shanghai SIPG. Dozens of supporters chanting club songs swarmed the former Chelsea player at the city’s Pudong airport. Oscar’s arrival in the Chinese Super League comes ahead of that of Argentina’s former Manchester United striker Carlos Tevez, who signed for Shanghai Shenhua in another big-money deal last week.  Tevez’s transfer fee was 10.5 million euros, according to the website transfermarkt.com, which tracks dealings in the sport, though the reported two-year contract of 38 million euros per season ($40 million) makes him the world’s highest salaried footballer. SIPG’s general manager on Monday dismissed concerns raised by state media of a market bubble in the super-rich Chinese league, arguing prices have to be higher to attract players away from big European leagues. “The leagu...
Post a Comment
Read more

Ghanaian migrant commits suicide in Malta

A Ghanaian migrant who was facing deportation from Malta took his own life on Saturday after he was forced to "feel like a criminal" by a new immigration policy in that country. The Times of Malta   reports that, Frederick Ofosu, 33, was found strangled with an electric cable in a Qawra building site on Saturday night. He left a recorded message for friends explaining his despair, saying he was being forced to feel like a criminal when he had done no wrong, according to Ahmed Bugri, director for the Foundation for Shelter and Support for Migrants. Dr Bugri who identified the victim together with a Ghanaian embassy official, said the government's decision to review the so-called THPn system had forced him to the edge. However, the Home Affairs Minister Carmelo Abela said the victim had applied for assisted voluntary return scheme to return to Ghana last September. His return process could not be concluded because there were other pending court cases. Mr A...
Post a Comment
Read more