President Buhari has approved a comprehensive relief package valued at over N400bn to put an end to the lingering crisis of unpaid workers’ salaries in the country. Vanguard gathered that a three-pronged relief package that will end the workers plight include:
The sharing of about $2.1b (N413.7bn) in fresh allocation between the states and the federal government. The money is sourced from recent LNG proceeds to the federation account, and its release okayed by the president;
A Central Bank-packaged special intervention fund that will offer financing to the states, ranging from between N250bn to N300bn. This would be a soft loan available to states to access for the purposes of paying backlog of salaries;
And a debt relief program proposed by the Debt Management Office, DMO, which will help states restructure their commercial loans currently put at over N660bn, and extend the life span of such loans while reducing their debt-servicing expenditures. For more scintillating and juicy stories, follow the official Naijapals accounts On Twitter - @Naijapals and Facebook - www.facebook.com/naijapals
I have been reporting on latest news from Nigeria for almost 10 years now. I report on every possible news area I come across, but always ensure my reports are compiled with dignity and fact to uphold my personal values and duty as a journalist
Posted: at 6-07-2015 09:22 PM (8 years ago) | Addicted Hero
elixabethAA at 6-07-2015 09:57 PM (8 years ago) (f)
Guys, read the poster's lips b4 u judge with ur stinking mouth..He said, "The money is sourced from recent LNG proceeds to the federation account, and its release okayed by the president;
Posted: at 6-07-2015 09:57 PM (8 years ago) | Upcoming
Its their entittlement anyway. It can be source from anywhr, e no concern us. Wen they are sharing loots, nigerians does not ask whr they source it from.
Posted: at 6-07-2015 10:26 PM (8 years ago) | Addicted Hero
PMB is gradually restructuring what reckless predecessor administration bastardized. Suprisely, with the situations of the country, I can still see many arrogant comments from cowards, praising and commending those great loser, whom intentionationally truncated our economy.
Posted: at 6-07-2015 10:41 PM (8 years ago) | Upcoming
PMB is gradually restructuring what reckless predecessor administration bastardized. Suprisely, with the situations of the country, I can still see many arrogant comments from cowards, praising and commending those great loser, whom intentionationally truncated our economy.
Posted: at 6-07-2015 10:42 PM (8 years ago) | Upcoming
PMB is gradually restructuring what reckless predecessor administration bastardized. Suprisely, with the situations of the country, I can still see many arrogant comments from cowards, praising and commending those great loser, whom intentionationally truncated our economy.
Posted: at 6-07-2015 10:42 PM (8 years ago) | Upcoming
These are part of the subsidy removed during that one month strike plus the excess of crude oil on the benchmark prize for the fiscal year. Remember after the strike the governors agreed to share the money rather than putting all in SURE-P
Posted: at 7-07-2015 02:48 AM (8 years ago) | Gistmaniac
kareen2009 at 7-07-2015 02:51 AM (8 years ago) (m)
Who cares where his appointments comes from as long as he is solving the problems of we Nigerians. GEJ. that all his appointments cut across Nigeria what did they do to alleviate poverty, hunger, and suffering in the country?.
Posted: at 7-07-2015 02:51 AM (8 years ago) | Newbie
Congratulations mr president, for coming to rescue of states, that's what a true leader does, putting a square peg in a square hole. Am proud of you boss. Sai baba
Posted: at 7-07-2015 04:49 AM (8 years ago) | Upcoming
bright1love at 7-07-2015 04:54 AM (8 years ago) (m)
Baba go slow now paying back the money they use to support him in the fraudulent election..I just hope they will pay them there full salary not pay 3months and put the rest in there rotten pocket
Posted: at 7-07-2015 04:54 AM (8 years ago) | Upcoming
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