Economy
Gov. Seyi Makinde Unveils The Truth Behind “Acclaimed” Tinubu’s N570bn; Says, Not Federal Govt Funds
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Gov. Seyi Makinde Unveils The Truth Behind “Acclaimed” Tinubu’s N570bn – Says, Not Federal Govt Funds
By Aremu Adebayo
Daily Hint before now, has reported that Oyo State Governor, Seyi Makinde, has publicly debunked claims made by President Bola Tinubu that the Federal Government disbursed N570 billion to the 36 states of the Federation. In a newsletter published on the official Oyo State website on Thursday, Makinde clarified that the reported funds were not a direct allocation from the Federal Government, as suggested by President Tinubu, but rather a reimbursement from the World Bank.
Makinde explained that the money in question was part of the World Bank’s COVID-19 Action Recovery Economic Stimulus (CARES) program, which aimed to assist states in Nigeria with recovery efforts following the COVID-19 pandemic. The governor emphasized that the funds were tied to what each state had already spent on COVID-19 relief programs, meaning that the states were essentially being reimbursed for their expenditures rather than receiving a fresh allocation of funds from the Federal Government.
“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,” Makinde stated. “Let me state categorically that this is yet another case of misrepresentation of facts. The said funds were part of the World Bank-assisted NG-CARES project—a Programme for Results intervention.”
Makinde further elaborated that the Federal Government’s role in the disbursement was limited to acting as an intermediary between the World Bank and the states. He stressed that it was inaccurate to portray the funds as a direct gift or grant from the Federal Government, as they were essentially reimbursements facilitated through the World Bank’s intervention program.
The clarification from Makinde comes in response to comments made by President Tinubu during a national broadcast addressing the #EndBadGovernance protests, which have swept across the country amid rising concerns over hunger and hardship. In his address, Tinubu claimed that his administration had disbursed over N570 billion to the 36 states to expand livelihood support for citizens. He also mentioned that 600,000 nano-businesses had benefitted from the funds, with an additional 400,000 nano-businesses expected to receive support.
Makinde’s rebuttal highlights the ongoing tension between state and federal governments in Nigeria, particularly in the context of financial management and transparency. His remarks serve as a call for clarity and accuracy in the communication of public funds’ allocation and usage, ensuring that citizens are correctly informed about the sources and purposes of government spending.
