…52% Attracts Interest, 48% Interest-Free
By Wole Adedeji, Ilorin
States across the country are to receive N4 billion palliatives each from the Federal Government and not N5 billion as generally believed, the Kwara State government has clarified.
Out of the amount, for instance, Kwara had received the sum of N2 billion, awaiting the balance of N2 billion. The N2 billion received is to purchase rice to be distributed en masse to vulnerable members of the public in the state.
Speaking on the subject at a press conference in Ilorin, the Chief Press, CPS, Secretary to the Kwara State governor, Mallam Rafiu Ajakaiye, said that the state is awaiting a balance of N2 billion of the funds, as well as N1 billion worth of maize – 40,000 bags – which the Central Bank of Nigeria, CBN, will sell to each state from the national strategic reserve.
Ajakaiye said, “We wish to explain in context the details of the N5 billion Federal Government’s relief package earlier reported in the media.
“Each state is to receive N4 billion to purchase bags of rice in the current market value and distribute same to citizens in the state, with the most vulnerable persons as the first priority. This is as agreed at the National Economic Council, NEC.
“Each state is to also receive N1 billion worth of maize from the strategic national reserve, through the Central Bank of Nigeria. This is not in form of cash; it is maize. As of Friday August 18, 2023, the Kwara State government has received N2 billion of the N4 billion. It awaits the balance.
“The state also awaits the maize from the CBN. It is important to mention that 48 per cent – N1,920,000,000 of the N4 billion is a non-interest loan, that will be paid back over a period of 20 months at N120 million monthly. This deduction begins in November.
“The state government has consequently ordered immediate purchase of rice in the value of the amount. For transparency and fairness to all, distribution of the palliatives will be overseen exclusively by a committee headed by the Kwara State Police Commissioner, Ebun Oluwarotimi Adelesi.
“She will be supported by the Emir of Shonga, Dr. Haliru Yahya, the state chairmen of Jama’átu Nasrul Islam and Christian Association, CAN, respectively or their representatives, Dr. Lawal Olohungbebe and Mrs Grace Funke Bolaji – both representing civil society organisations, CSOs; chairman of the Nigerian Institute of Public Relations, Dr (Mrs) Saudat Abdulbaqi.”
Ajakaiye also said that Mr. Steven Awoyale – representing the youth, a representative of the DSS, a female representative each from the ‘disability’ community and the Nigeria Union of Journalists, NUJ, and Permanent Secretary – General Services – in the Office of the Secretary to the State Government, SSG, Alhaji Abdulrahman Ameen Babatunde, will serve as Secretary, will complete the committee.
He added that further details on the palliatives would be released by the committee saying, “Similarly, the state government hereby confirms receipt of the remaining three trucks of the bags of rice.”
Recall that Kwara State had on August 8, 2023 announced delivery of two truckloads of bags of rice, while awaiting three more.
Distribution of the remaining three truckloads, Ajakaiye told the press briefing, had “commenced through various channels of reaching out to the public, including lawmakers who represent the 24 state constituencies and other stakeholders in the state.
He pleaded that the palliatives be shared in the spirit of fairness to all, particularly to the most vulnerable persons, pointing out that it was “simply impractical for everyone to get at the same time.
He added, “The government appeals to members of the public to remain patient and calm, as multi-layered steps are being taken in phases, including huge interventions to support massive food production, local production of gas-powered vehicles, support for small and medium scale enterprises, manufacturing and other businesses, to boost the economy and ease the difficulties arising from the removal of fuel subsidy.
“The governor commends the President, Asiwaju Bola Ahmed Tinubu, for the several initiatives of the Federal Government to bring ease to the people. The governor reassures all Kwarans of his commitment to their welfare at this time and always.
