FG List Conditions For Accessing Fresh Bail Out Funds
The federal government has listed conditions for state governments to be able to access their share of the $2.6b Paris Club Refund.
The federal government’s position was disclosed by the Director of Information, Federal Ministry of Finance, Mr Hassan Dodo, on Tuesday, who said the federal government would commence phased payments of the refund to the states once the condition and others listed were met.
“The DMO led the reconciliation process under the supervision of the Federal Ministry of Finance. The final approval of 2.69 billion dollars is subject to some conditions.
“Salary and staff related arrears must be paid as a priority. Also, commitment to the commencement of the repayment of Budget Support Loans granted in 2016 must be made by all States.
“Furthermore, they must clear amounts due to the Presidential Fertiliser Initiative and make commitment to clear matching grants from UBEC.
“This is in cases where some states have available funds which could be used to improve primary education and learning outcomes,” the statement reads.
Naija News recalls the President Buhari-led federal government had made payments to state governments previously from the Paris Club Refund, urging them to use it to settle arrears of workers’ salaries in their various states but many state governors remain heavily indebted to their workers despite the bail out funds.