Governor Seyi Makinde of Oyo State has refuted claims that the N570 billion released to states was a handout or bailout from President Bola Tinubu’s government
In a recent broadcast, Makinde explained that the funds were part of the World Bank-assisted NG-CARES project, aimed at helping states recover from the COVID-19 pandemic.
According to People’s gazette, Makinde stated that the NG-CARES program was a loan, not a grant, and that each state is expected to repay the loan.
He emphasized that the federal government did not give any state money, but rather reimbursed states for expenses already incurred through the program.
The governor highlighted that Oyo State had invested in the program and was reimbursed N5.98 billion and N822 million for its efforts in supporting smallholder farmers.
He also noted that the World Bank adopted Oyo State’s model for input distribution as the NG-CARES model.
Makinde’s clarification comes after President Tinubu’s announcement of the N570 billion release, which sparked controversy amidst ongoing protests against hunger and corruption.
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Good clarification