President Buhari has approved the release of N522 billion to all 36
state governors for the payment of salaries as well as pension. Read the
press statement shared on his social media page below...
I have approved the disbursement of N522 billion to the State
Governments, to enable them pay salary and pension arrears, and put
money in the economy. 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 N153 billion, 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. 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.
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