Business and EconomyLocalNews
Governors move to access $4.25bn World Bank funds; back petrol subsidy removal by FG; Ambode at NEC
This is also the state chief executives disclosed that they are making efforts to access $4.25 billion earmarked by the World Bank for states’ development.
Ogun State Governor, Ibikunle Amosun, who spoke after the governors met Wednesday night in Abuja, said governors supported the removal of subsidy because they believed that it was in the interest of the masses.
He said: “These are sacrifices that must be made by all. The president means well, the government means well, all of us mean well and if truly we are caring for the masses we believe that subsidy only serve the rich and those that are getting us the fuel, not the masses.
“We believe that such monies that have been saved from the subsidy would be used for infrastructural development particularly for social services for all of the down- trodden masses.
“We are putting our weight behind it, while urging the federal government and indeed the state governments to see how we can ameliorate all the problems the masses would probably go through in the short run because in the long run they would be the better for it.”
Also speaking, the Chairman of the Nigerian Governors’ Forum and Zamfara State Governor, Abdulaziz Yari said the Country Director of world Bank, Rachid Benmessaoud had educated the governors on how they could access $4.25 billion earmarked by the World Bank for states’ development.
He said: “Because of the cumbersome procedure in accessing these funds, most of the governors did not even know they had such funds there. It was the initiative of the Governor of Kaduna State that they should come and make this presentation so that they can educate the governors to know that these monies are there especially in the kind of situation we are so that the states can move forward in terms of infrastructure development and other matters in our respective states.”
