The Presidency has addressed the controversy surrounding the recent N573 billion given to Nigerian states, making it clear that this money is a World Bank loan, not a grant. This clarification comes after governors of Oyo State and Niger State, Seyi Makinde and Abdullahi Sule, stated that they only received a World Bank loan and no additional funds from the Federal Government.

According to Temitope Ajayi, the Senior Special Assistant to the President on Media and Publicity, the focus shouldn’t be on whether the money is a loan or a grant. Instead, the attention should be on how the funds can be used to benefit the country and its people. Ajayi explained that the funds are part of the COVID-19 livelihoods support scheme under the NG-CARES Programme, which is financed by the World Bank.

Ajayi emphasized that the loan is guaranteed by the Federal Government, meaning that if the states cannot repay, the Federal Government will step in. He argued that there should be no disagreement about the nature of the funds if the goal is to improve the lives of citizens. The Presidency is focused on using these funds to boost education, healthcare, security, and infrastructure across the states.

Ajayi concluded by reminding everyone that the President and the governors are partners in the work of building the nation. He suggested that the real issue should not be about the terminology used to describe the funding but rather about ensuring that the resources are used effectively to serve the people.