Sunday, 4 December 2016

Pres Buhari releases N522bn to stategovernors for payment of salaries and pension

President Buhari has approved the release
of N522 billion to all 36 state governors for
the payment of salaries as well as pension.
Read the press statement shared on his
social media page below…
I have approved the disbursement of N522
billion to the State Governments, to enable
them pay salary and pension arrears, and
put money in the economy. We have
stipulated that at least 50% of the funds
should be dedicated to salaries and
pensions, and we will audit disbursements
to ensure compliance.
The Ministry of Finance is currently
processing the first batch of N153 billion,
which, I am told, will be released to 14
States. The Ministry will provide more
details on how the funds will be disbursed
and how we will monitor the utilization to
ensure that Nigerians receive the full
benefits from their State Governors. As I
said in my Independence Day Speech, I
firmly believe that this recession will not
last. We should not allow our temporary
problems to blind us from the corrective
course this administration is charting for
Nigeria. We know what our challenges are
and we are working very hard to provide
solutions that will last.