Buhari used financial creativity to save debtor states — Vice President Osinbajo
Vice President Yemi Osinbajo has
described the Federal Government’s financial bailout to states unable to
pay workers’ salaries as financial creativity made possible by
compassion and leadership quality exhibited by President Muhammadu
Buhari.
Osinbajo, who spoke in Ibadan on
Saturday, said, given the financial circumstances of the affected states
and the plight of the workers, it was essential that any listening and
sensitive government intervened in the way President Buhari did.
He said, “As you know, the Federal
Government under President Buhari directed that three things should be
done regarding the situation of the states in Nigeria. We know that the
states were unable to pay salaries of their workers for many months. The
first stage was the sum of money that was shared
from the Nigeria
Liquefied Natural Gas dividends and taxes, amounting to $2.1b.
“The
second package is a loan which the states are allowed to access. The
loans are concessionary in nature and any state that deserves it should
have it. The third stage is the conversion of loans owed to commercial
banks by the states to bonds. It is fairly complicated but simply put,
the state and FG will work out how the loan will be repaid over an
extended period of time. We are looking at 15 to 20-year period. Some
have described this as bailout but what the President did is an
extremely creative and compassionate way of giving relief to states as
much as possible, given the financial circumstances they found
themselves.”
The Vice President also called on
Nigerians to be vigilant in order not to fall into the dangerous plot of
the Boko Haram. He also used the opportunity to clarify his recent
statement on the plan by the insurgents to hit their targets using
scavengers.
Similarly, he assured Nigerians that all
things are going well in the Muhammadu Buhari-led government. He said
this on Saturday during an interview with journalists at the grand
finale of the 25th coronation anniversary of the Akarigbo and paramount
ruler of Remoland, Oba Adeniyi Sonariwo, in Sagamu,Ogun State.
He said, “All things are going well,
things are going to get better and better. They (Nigerians) should be
very hopeful. And we know that things are just going to get better and
better.”
Osinbajo, who read the Yoruba version of
his speech at the event, extolled the virtues of Oba Sonariwo. He noted
that the monarch had also been supportive of the federal, state and
local governments.
On his part, Oba Sonariwo spoke about
the legal hurdle he faced before he ascended the throne on 8th April
1990, and thanked God for seeing him through and keeping him alive to
celebrate 25 years on the throne.
The monarch, who also spoke on the issue
of creation of Ijebu State, said the Remo people predicated their
support of its creation on the condition that “the capital will be
placed at Ikenne Remo towards Odogbolu.”
Also present at the event were a former
President, Chief Olusegun Obasanjo and the Ogun State governor, Senator
Ibikunle Amosun. Obasanjo said the Remo people and the Egba people “are
brothers and relations.” He thanked the Akarigbo for supporting him
while he was rooting for a second term in office.
Source: The Punch
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