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N656bn bailout: Buhari a caring leader, PDP govt didn’t help states – BMO

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The Buhari Media Organisation says the recent N656 billion bailout to 36 states confirms President Muhammadu Buhari is a caring chief.

A press release on Wednesday by the Chairman, Niyi Akinsiju, and Secretary, Cassidy Madueke, stated the most recent facility is the fourth in six years.

Every state will get N18.2 billion to assist them meet monetary obligations and price range help due for compensation.

The funds shall be disbursed in six tranches over six months, with a 30-year tenor, and a 2-year moratorium at an rate of interest of 9 %.

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BMO famous that the presidential gesture was unprecedented and commendable.

“Not even within the oil growth years of the Folks’s Democratic Get together (PDP) did the nation witness something near this”, the assertion learn.

It recalled that the primary bailout was inside the first few months of the Buhari administration when about 27 states couldn’t pay salaries and pensions.

One other was in 2016 whereas a 3rd was disbursed in 2017 with President Buhari particularly insisting that Governors ought to prioritize cost of salaries,” it added.

BMO stated the newest reveals Buhari “is so compassionate that he as soon as requested some Governors how they sleep at evening realizing that employees salaries had not been paid”.

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The physique suggested Governors to make use of the N18.2 billion judiciously on tasks and programmes that may be helpful to the folks.

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