We Never Asked for Bailout, - Governors

Abdulaziz Yari, the Zamfara State Governor, has said it was necessary to inform the media that the Federal Government did not give any bailout to any of the states.

Yari made the accession rising after their late night meeting on Wednesday at the Transcorp Hilton Hotel, Abuja, the governors said the $2.1 billion shared earlier in the month were proceeds paid to the Federation Account by the Nigerian Liquefied Natural Gas (NLNG) Ltd through the Federal Inland Revenue Service (FIRS).
His words:

“What had been shared last time were monies from NLNG and FAAC (Federation Account and Allocation Committee). And as we have been saying, we have not been looking for bailout.
“Instead, we have been looking for all monies that are in the coffers of the federation most especially we are talking about some of the monies that are hung around the coffers of government to be brought together for the purpose of sharing.”

After President Muhammadu Buhari’s election and before his inauguration, governors elected on the platform of the All Progressives Congress (APC) visited him at the Defence House where they held a long meeting.
The chairman of the forum and governor of Imo state, Rochas Okorocha, had told reporters that the governors asked for a bailout from Mr. Buhari because many of the states were cash-strapped.
Again, the APC governors asked for a bailout after their meeting at the Imo House in Abuja, insisting that without such intervention, some states may not be able to pay arrears of salaries and meet other financial obligations.
Their counterparts on the platform of the Peoples Democratic Party (PDP) also held a separate meeting and adopted the same position after which an enlarged meeting of the NGF on June 21 took a position to meet with the President on the issue.
The governors met with Mr. Buhari and it was announced that the Federal Government had worked out a relief package for the states.
The package included the $2.1 billion NLNG payment, provision of low-interest rate credit facility and the rescheduling of existing debts.
Yari, according to TheNation however, maintained yesterday:

“We are not taking any bailout from the Federal Government and the Federal Government did not give us any bailout yet.

“But we are talking on how best the intervention will happen within these days so we will be able to settle the issue of salaries and other operations in government in the country.”

The NGF also expressed concern over the sliding value of the naira and resolved to take the matter up with the Presidency.

The governors described as ‘excessively’ high exchange rate of foreign currencies against the naira which stood at N247 naira to the dollar at the parallel market as at Thursday.

In a communique read by the NGF chair and Zamfara State Governor Abdulaziz Yari, the governors lamented the adverse effects of the high exchange rate on the economy.

Yari said:

“We are going to discuss with Mr. President to seek lasting solutions to the worsening macroeconomic challenges confronting the nation, especially on foreign exchange stability.
“The forum pledges to work with Mr. President to ensure coherent policy actions that will create a clear policy direction for the country and stimulate domestic production.”

Yari also said the governors discussed health related issues, with the view to seeking areas of cooperation with the Federal Government on the implementation of the National Health Act.
He said:

“We will collaborate with the Federal Government to ensure that the National Health Act is operational and to agree on funding for primary health care to be provided for in the budget.
“Sequel to the presentation made by the Country Representative of the Bill and Melinda Gates Foundation, the forum agreed to aggressively support the total eradication of polio in the country.”