President Buhari Approves ₦400billion For Workers’ Salaries

President Buhari has approved a far reaching relief bundle valued at over N400bn to put an end to the waiting emergency of unpaid specialists’ pay rates in the nation. Vanguard assembled that a three-pronged releief bundle that will end the specialists situation include:

The sharing of about $2.1b (N413.7bn) in new allocation between the states and the central government. The cash is sourced from late LNG proceeds to the federation account, and its released affirmed by the president;

A Central Bank-package special intervention fund that will offer financing to the states, going from between N250bn to N300bn. This would be a soft loan accessible to states to access for the reasons of paying salaries ;

Furthermore, a debt relief program proposed by the Debt Management Office, DMO, which will help states rebuild their commercial loans presently put at over N660bn, and broaden the life span of such loans while decreasing their debt-servicing expenditures.