Setting the Record Straight: Makinde on N570 Billion ‘Hardship Fund

Governor Seyi Makinde has addressed the allegation of a N570 billion grant being given to Oyo State, clarifying it as a misrepresentation of facts. In his letter to the people of Oyo State, the governor acknowledged the current economic challenges and the protests against food inflation and general hardship.

Governor Makinde explained that the misconception about the N570 billion Hardship Fund allegedly given to the 36 states by the Federal Government is inaccurate. He detailed that the fund in question is part of the World Bank-assisted Nigeria COVID-19 Action Recovery and Economic Stimulus (NG-CARES) project, which aims to help states with COVID-19 recovery efforts.

He clarified that the Federal Government did not provide any direct grants to the states but rather reimbursed states for expenses already incurred through the NG-CARES program. The governor emphasized that the World Bank fund is a loan to the states, not a grant, and must be repaid.

Governor Makinde highlighted Oyo State’s transparency in managing donor-facilitated interventions and its leadership in implementing projects like NG-CARES and the Livestock Productivity and Resilience Support (L-PRES) Project. He discussed the goals of the L-PRES project, stressing the importance of investing in agriculture as a business to ensure food security.

He also acknowledged that while Oyo State alone cannot solve Nigeria’s economic difficulties, the state aims to provide a model for others to follow. Governor Makinde expressed confidence in the structures put in place to drive the state forward during his temporary absence and assured the citizens of Oyo State of his unwavering commitment to the state’s betterment.

In his open letter, Governor Makinde reiterated his dedication to addressing the economic challenges facing the state and emphasized the importance of clear communication and transparency in dispelling misinformation.