Economic Crisis FG to bail out troubled states again

The government had earlier bailed out 27 states of the country due to their inability to pay their workers’ salaries.

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President Muhammadu Buhari play

President Muhammadu Buhari

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The Federal Government is again set to bail out some states in the country which are facing financial troubles.

This was disclosed via a statement released by the Ministry of Finance.

“We are determined to attain financial discipline across government and implementing the FSP at state level will ensure alignment,” Minister of Finance, Kemi Adeosun said according to the statement.

“The focus on increasing revenue, which is not limited to conventional taxes but rather encourages states to explore opportunities in areas such as agriculture and solid minerals, is in line with our diversification objectives.

“The targets for cost management and improved efficiency will deliver value for money and will yield long term savings.

“Overall, we believe that the survival of state governments is essential to the economic recovery of Nigeria, specifically their ability to meet salary obligations,” the statement added.

The government had earlier bailed out 27 states of the country due to their inability to pay their workers’ salaries.

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