Makinde Claims States Haven’t Received FG’s ₦570 Billion Allocation

Makinde Claims States Haven’t Received FG’s ₦570 Billion Allocation....KINDLY READ THE FULL STORY HERE▶

Oyo State Governor, Seyi Makinde, has clarified that states have not received ₦570 billion from the federal government. According to Makinde, recent comments by Minister of Information Mohammed Idris misrepresent the situation……. CONTINUE READING 

Makinde explained that the ₦570 billion was actually a loan from the World Bank, not a grant. The federal government merely acted as an intermediary for the funds, which were intended to assist states with COVID-19 recovery through the World Bank’s NG-CARES project (COVID-19 Action Recovery Economic Stimulus).

In a newsletter issued on Thursday, the governor stated, “The funds were part of the World Bank-assisted NG-CARES project, a Programme for Results intervention. States had to spend their own money upfront, and the World Bank reimbursed them after verifying the expenditures through the federal platform. The federal government did not directly provide any money to the states.”

Makinde further noted that the World Bank loan is repayable by the states and that the NG-CARES program, known as Oyo-CARES in Oyo State, was established before the current federal administration.

He detailed that Oyo State received ₦5.98 billion in the first tranche and ₦822 million in the second. “In response to the recent claims, the federal government did not provide Oyo State with any direct funds. We were reimbursed for expenses related to the program, including investments in distributing inputs to smallholder farmers,” Makinde said. He also highlighted that the World Bank adopted Oyo State’s input distribution model as the standard for the NG-CARES program.

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