State Bailout – Kalu Aja

President Buhari gives States a fresh N522b bailout…is cash simply being printed?

Posted on December 2, 2016 by kalu Aja

President Buhari has announced a fresh N522 billion bailout to States. This bailout the President said is to enable the States “pay salaries and pension arrears, and put money in the economy”. The Presidential statement continued…. “the Ministry of Finance… Continue Reading →

The cost of state bailouts

Posted on September 24, 2016 by kalu Aja

Let me list out the FGN bailout interventions to States. 1. July 2015: N804.7b Intervention package 2. April 2016: N10.9b Deferred Obligations 3. September 2016: N40b Budget Support loan So to date, the taxpayers have funded the states with N855.6billion… Continue Reading →