The Buhari Media Organization (BMO) has come out to hail the decision of President Muhammadu Buhari following the news that approval has been made for the disbursement of yet another bailout fund totalling N656billion to all the 36 States of the federation.
According to the statement signed by the Chairman and Secretary of the group, Niyi Akinsiju and Cassidy Madueke respectively, the decision to disburse such an amount of money as a budget support facility by the President was unexpected and unprecedented.
The group noted that the news was a shocker coming at a time when the states are expected to repay the previous bailout funds distributed to them earlier.
” We were pleasantly surprised when Finance Minister Zainab Ahmad first dropped the hint, in Lagos, about the President’ s approval of yet another bailout for the States at a time they were to begin repaying three previous bailout facilities extended to them,
” At the time, many Nigerians did not know what to expect until the meeting of the National Economic Council (NEC) where it was revealed that each of the 36 States would get N18. 2bn in six tranches over the next six months, to be repaid over 30 years starting from 2023″ the statement reads
Explaining how the Buhari’ s administration has been consistent in assisting states with bail funds since it assumed office, the BMO said ” This is truly unprecedented and not even in the oil boom years of the Peoples Democratic Party (PDP) did the country witness anything close to this,
” We invite Nigerians to note that the first- ever bailout by the Buhari administration was within the first few months of the President’ s assumption of office when it became obvious that no fewer than 27 States were having difficulties in paying workers salaries and pensions,
” Another tranche of the bailout was in 2016 while a third was disbursed in 2017 with President Buhari specifically insisting that State Governors should prioritize payment of salaries when it was obvious that many States again had several backlogs of unpaid salaries,
” So as surprising as the 4th bailout in six years is, it is totally in the character of a President who is so compassionate that he once asked some Governors how they could sleep at night knowing that workers salaries had not been paid, ” it added
Based on the goodwill of the Mr. president behind this gesture, the BMO hoped that the leadership of all the states would use all the funds judiciously to have a direct and recognisable impact on the lives of the common man.