Bayelsa state govt confirms receipt of N10.8 billion from FG’s N570 billion NG Cares Fund
The Bayelsa State Government has confirmed receiving N10.8 billion as part of the N570 billion distributed by the federal government to all 36 states under the NG Cares program.
This funding, in partnership with the World Bank, is designated for social interventions, including agricultural support and aid to vulnerable populations.
The confirmation was provided on Monday by Mr. Timipre Seipolu, Technical Adviser to the Bayelsa Governor on Treasury, who also outlined the state’s income and expenditure for May, June, and July.
“The NG Cares is a programme run by the states the Federal Government and the World Bank. The states are expected to make some expenditures.
“These expenditures include areas of agriculture through FADAMA and after some period, say quarterly, the expenditures are refunded. That is after the projects are independently verified.
“The support to SMEs and individuals like the vulnerable and elderly are dome in accordance to World Bank templates before refunds can be made and not complying with the template can lead to delays.
“So, the N10.8 billion the state received for two months was money that the government through the NG Cares actually spent on projects in the state,” Seipolu said.
This clarification ties into President Bola Tinubu’s August address, where he announced that over N570 billion had been released to the 36 states of the federation to expand livelihood support for vulnerable citizens.
In a televised national broadcast on August 4, 2024, amidst the nationwide protests, President Bola Tinubu announced that the federal government had released over N570 billion to the 36 states of the federation as part of efforts to expand livelihood support for vulnerable citizens.
This announcement, made during a time of heightened public unrest, was intended to demonstrate the government’s commitment to alleviating economic hardships.
However, Ogun State Governor, Seyi Makinde, later provided critical clarification, noting that the disbursement of over N570 billion was not the grant it was portrayed as, but rather a loan that each state is obligated to repay.
Governor Makinde further explained that these funds were actually drawn from World Bank COVID-19 resources, with the federal government merely serving as an intermediary between the international financial institution and the states.
He highlighted that the funding was tied to the states’ previous expenditures on COVID-19 relief efforts, meaning the World Bank was reimbursing what the states had already spent to combat the pandemic.
This disclosure highlighted the fact that the financial support was not new money but a repayment for prior commitments made by the states in addressing the crisis.
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