N570bn Bailout: FG Didn’t Dash Oyo State Money – Makinde

President Bola Tinubu while addressing Nigerians in a broadcast during the #EndBadGovernance protests said the government had disbursed ₦570bn to each of the 36 states.

Tinubu also said that Nigeria spends ₦2trillion monthly to import Premium Motor Spirit, popularly called petrol, and Automotive Gas Oil, otherwise known as diesel.

He disclosed that ₦9.1tn was accumulated as total fiscal revenue to the Federal Government’s coffers during the first half of 2024, marking a significant increase from what was earned by the previous administration.

“Also, more than ₦570bn has been released to the 36 states to expand livelihood support to their citizens, while 600,000 nano-businesses have benefitted from our nano-grants. An additional 400,000 more nano-businesses are expected to benefit,” the President stated.

However, in a newsletter No 95 |August 2024 personally signed by the governor and shared on his X handle on Thursday, said the state was not in the know of such a grant.

He said, “In my newsletter tonight, I responded to a question from a concerned citizen of Oyo State regarding the claim that the Federal Government ‘gave’ States over N570 billion as some kind of ‘hardship fund’ for citizens.

“So, in direct response to the message, the Federal Government did not give Oyo State any money. We were reimbursed funds (N5.98 billion in the first instance and N822 million in the second instance) we invested in the three result areas of NG-CARES, which includes inputs distribution to smallholder farmers within our State. In fact, when the World Bank saw our model for the distribution of inputs preceded by biometric capturing of beneficiary farmers, they adopted it as the NG-CARES model.”