The Oyo State Governor, Engr. Seyi Makinde, has clarified the misconceptions surrounding the purported N570 billion Hardship Fund allegedly given to the 36 states by the Federal Government.
In his newsletter on Thursday, The governor explained that the funds were part of the World Bank-assisted NG-CARES project, a Programme for Results intervention aimed at helping states in Nigeria recover from the COVID-19 pandemic.
“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. The World Bank facilitated an intervention to help States in Nigeria with COVID-19 Recovery. CARES means COVID-19 Action Recovery Economic Stimulus. It was called Programme for Results because States had to use their money in advance to implement the programme. After the World Bank verified the amount spent by the State, it reimbursed the States through the platform provided at the Federal level. The Federal Government did not give any State money; they were simply the conduit through which the reimbursements were made to States for money already spent,” Makinde stated.
He emphasized that the World Bank fund is a loan to states, not a grant, and that states will need to repay the loan.
The governor mentioned Oyo State’s transparency in managing donor-facilitated interventions, citing the NG-CARES project and another World Bank-facilitated project, the Livestock Productivity and Resilience Support (L-PRES) Project. He encouraged livestock farmers in Oyo State to register for the L-PRES project, which aims to create a resilient livestock landscape.
Gov. Makinde stated that he’s taking a brief pause from his duties for four weeks, and expressed confidence in the structures put in place to drive the State forward.
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