President Muhammadu Buhari has
approved a comprehensive relief package valued at over N400bn to put an end to
the lingering crisis of unpaid workers’ salaries in the country.
Vanguard gathered that a
three-pronged relief package that will end the workers plight include:
*The sharing of about $2.1b
(N413.7bn) in fresh allocation between the states and the federal government.
The money is sourced from recent LNG proceeds to the federation account, and
its release okayed by the president;
*A Central Bank-packaged special
intervention fund that will offer financing to the states, ranging from between
N250bn to N300bn. This would be a soft loan available to states to access for
the purposes of paying backlog of salaries;
* And a debt relief program
proposed by the Debt Management Office, DMO, which will help states restructure
their commercial loans currently put at over N660bn, and extend the life span
of such loans while reducing their debt-servicing expenditures
No comments:
Post a Comment