COVID-19: Governors Want Debt Repayment Suspended

The Nigeria Governors Forum (NGF) has called for urgent fiscal measures to safeguard the liquidity of State governments, including the acceleration of an arrangement to suspend all State deductions and restructure all debt payments on the federal government and CBN-owned debts.

This was part of the resolutions reached after the governors’ meeting held on Wednesday to deliberate on the COVID-19 pandemic in the country, a statement signed on Thursday by Abdulrazaque Bello-Barkindo, Head, Media and Public Affairs, NGF Secretariat, Abuja, read.

A communique signed by NGF Chairman, Governors Kayode Fayemi of Ekiti State, said the decision also came after a briefing from the Minister of Finance, Budget and National Planning, Hajiya Zainab Ahmed, on fiscal measures taken by the federal government to mitigate the economic impact of the COVID-19 pandemic.

Members also received a briefing from the Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajiya Sadiya Umar Farouq, on stimulus incentives from the federal government to support vulnerable households across States to cope with the expected loss of income and livelihoods in the coming months.

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The governors thereafter committed to leading the effort through State focal persons in charge of social protection to ensure that palliatives including food and cash transfers reach the most vulnerable population in all States.

Members of the forum also discussed the legality or otherwise of lockdowns in other states around the country and resolved to maintain the status quo until the Chairman and Governor of Ekiti State resolves the matter with the Presidential Committee on COVID-19.

Members also resolved to leverage on the lockdown situations to send essential food items across boundaries as part of the palliatives so that perishables produced in one state get to states that need them unhindered. It added that the governors would hold another meeting next week Wednesday.