Tuesday, November 18, 2025
25.1 C
Lagos

The N714bn Bailout: Matters Arising

It was good news the other morning when news filtered out that the federal government has graciously given cash-strapped states a bailout of approximately N714 billion to settle outstanding salaries and other forms of wages to workers in their states.

To the workers, it was probably the best news of the year 2015, given that some that had fallen into arrears for upwards of seven to nine months. To ordinary Nigerians not directly affected by the salary crisis in the affected states, the bailout represents a moment of relief from the plight of the workers.

For the state governments, the bailout is only a temporary measure to relieve them of the scandalous inability to meet their obligations to workers in the states.

It is important for state governments to look inwards to know why they fell into the arrears in the first instance. A lot has been said about the negative impact of the 2015 general elections in terms of funding of the campaigns of political parties, which according to media reports, amounted to billions, if not trillions of Naira. The alleged expenses on the part of the state governments were said to have contributed to their perilous financial status, leading to non-payment of salaries and finally, the bailout from the federal government.

Our position going forward is that state governors should take the welfare of their people into consideration before embarking on any type of financial jamboree that does not generate income for the state.

There is need for state executives to respect public funds at their disposal for the simple that it is public funds that must be spent solely on public interest.

Finally, we want to commend President Muhammadu Buhari for lending a helping hand to the states to enable them to settle outstanding salaries. We also encourage him to put pressure on state governors to re-assess their priorities and place public funds at the disposal of the people.

For now, we welcome the bailout and hope that the nation will not be compelled to grant another bailout in the foreseeable future.

spot_img
spot_img
spot_img

Hot this week

Fidelity Bank Boosts Gymnastics Dev with Gymfest Championship 2.0 Sponsorship

L-R: Head Coach, Tee Tumblers Gymnastics Club & Lagos...

Cancer Care: Polaris Bank Celebrates with C.O.P.E on 30 Years of Hope, Impact, Partnership

L-R: Bukola Oluyadi, GH, Customer Expweience & Value management,...

NESG to Host Sports Africa Investment Summit 2026

Sport Nigeria Ltd/GTE is proud to announce the Nigerian Economic...

Leadway Assurance Unveils Adebisi Lamikanra as First Female Board Chairperson

Leadway Assurance, Nigeria's leading insurance company, has announced the...

Topics

Coronation Insurance 64th AGM Set for November 2

Mr. Olamide Olajolo Managing Director/CEO Coronation Insurance Plc Coronation Insurance Plc will...

Stanbic IBTC Stockbroking Zero Account Opening Campaign Drives Market Participation

Stanbic IBTC Stockbrokers Limited, a subsidiary of Stanbic IBTC...

Equity Flashnote: Foreign Investors Still Calling the Shots

Saturday, April, 21, 2018 marked the one year anniversary...

2023: Harvard Economist Projects Emefiele as Next Obasanjo

Godwin Emefiele Governor Central Bank of Nigeria It’s not very often that...

Ecobank Digital Channels: ‘Best Bet to Enjoy Safe, Convenient Digital Banking’

Ecobank advises its customers to utilise the bank’s digital...

‘Govt Alone Cannot Fight Poverty in Nigeria’

Wife of the Vice-President, Mrs. Dolapo Osinbajo has said...

PenOp Appoints Anthonia Ifeanyi-Okoro as Chief Operating Officer

The Pension Fund Operators Association of Nigeria (PenOp) is...

Sanlam Nigeria Settles Motor Insurance Claim in Less than One Hour!

  Sanlam General Insurance, a subsidiary of Sanlam Life Insurance...
spot_img

Related Articles

Popular Categories

spot_imgspot_img