Oyo State Governor Seyi Makinde has contested President Bola Tinubu’s assertion that the federal government allocated ₦570 billion to all states across Nigeria.
In a recent address during the #EndBadGovernance protests, Makinde clarified that the funds mentioned by Tinubu were not direct allocations but part of the World Bank’s NG-CARES initiative.
According to Makinde, the ₦570 billion referenced by Tinubu was part of the World Bank-assisted COVID-19 Action Recovery and Economic Stimulus (CARES) program. This initiative was designed to support state recovery efforts from the pandemic. However, the funds were not provided as a grant by the federal government. Instead, states had to initially cover the costs of the program and were later reimbursed by the World Bank through the federal government.
Makinde emphasized that these funds were loans from the World Bank, not grants, and states are required to repay them. The NG-CARES program, which was in place before the current federal administration, included two disbursements to Oyo State: ₦5.98 billion in the first tranche and ₦822 million in the second.
He also highlighted that Oyo State’s effective use of the NG-CARES model, including biometric capturing for input distribution to smallholder farmers, was recognized and adopted by the World Bank.
