Governors meet to demand 15 years repayment period for Nigerian government’s bailout

Governors of the 36 states are meeting in Abuja to review deductions made from states accounts following a Federal Government N614billion bailout given to the states at the inception of this administration in 2015.

The governors are demanding the adjustment of the repayment timeline to about 10 or 15 years to enable them carry out developmental projects in the various states.

The states have recently commenced the repayment of the bailout funds.

Ripples Nigeria gathered that the governors are claiming the deductions are too much and want extension to the repayment period at a less stringent rate.

Other items listed for discussion at the meeting are – the consideration and adoption of the minutes of the last Nigeria Governors’ Forum (NGF) meeting; the chairman’s update on Bill and Melinda Gates Foundation PHC Meeting in Seattle slated for November 12-13 and other side meetings.

Also listed are – the proposal for recovery of funds due to state governments (Withholding Tax (WHT), collection of ground rent, NTEL, MTEL etc.); briefing by the National Economic Council (NEC) Ad-hoc Committee on Excess Crude and other Special Accounts of the Federation.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now