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COVID-19: NGF Asks FG To Cancel All Deductions, Restructure Debts

Members of the Nigeria Governors Discussion board (NGF) have urged the Federal Authorities to cancel all funds deductions from states.

The governors additionally requested the Central Financial institution of Nigeria (CBN) to restructure all business debt service funds from states.

NGF Chairman, Governor Kayode Fayemi mentioned this on the governor’s COVID-19 teleconference assembly held on Sunday.

Based on the assertion, launched after the assembly, the NGF additionally counseled the presidential job pressure for main a nationwide response crew for COVID-19 however emphasised the necessity for a stronger collaboration with the states.

They insisted that such collaboration ought to embrace the administration of palliatives to mitigate the affect of the pandemic.

See beneath, full assertion as launched by the NGF.

We, members of the Nigeria Governors’ Discussion board (NGF), at our assembly held at this time deliberated on the COVID-19 pandemic within the nation and resolved as follows:

1. The NGF Chairman briefed State Governors on ongoing coordination with the World Financial institution to mobilise help for States to mitigate the financial and social value of the COVID-19 pandemic.

Ongoing plans embrace accelerated disbursement of current and new financing for States beneath the State Fiscal, Transparency, Accountability and Sustainability (SFTAS) Programme-for-Outcomes, and mitigation and restoration help for expenditures to guard livelihoods, help native financial exercise and restoration over the following 18 months to 2 years.

2. The Discussion board expressed appreciation to the Personal Sector Coalition In opposition to COVID-19 (CACOVID) arrange by the Central Financial institution of Nigeria (CBN) for his or her pledge to help States enhance their capability to mitigate the unfold of the virus and take care of confirmed circumstances by the development of isolation centres and the distribution of non-public protecting gear to States. Members underscored the necessity for CACOVID to work straight with the States within the distribution of palliatives.

three. Following a briefing from Mr. Boss Mustapha, Secretary to the Authorities of the Federation (SGF) on the actions of the Presidential Activity Power on COVID-19 which he chairs, the Discussion board counseled the SGF and his crew for the dedication in main a nationwide response to the COVID-19 pandemic.

four. Members additionally emphasised the need for stronger collaboration with States as a result of they’re greatest positioned to manage palliatives to mitigate the affect of the disaster, together with the distribution of meals and important supplies to households to assist them address the anticipated lack of earnings and livelihoods.

5. The Discussion board obtained presentation from Mazen Mroue, Chief Working Officer and Olubayo Adekanmbi, Chief Transformation Officer, MTN Nigeria on ongoing collaboration with the NGF Secretariat to profile States vulnerability to the unfold of the coronavirus based mostly on parameters similar to inhabitants age and density, journey historical past, location, earnings stage, and many others. Governors accredited the vulnerability mannequin and resolved to make use of the mannequin to drive a data-driven strategy to stopping the unfold of the virus within the nation.

6. The Discussion board additionally expressed full help for the federal authorities’s well timed implementation of the petrol value modulation mechanism to get rid of petrol subsidy completely within the nation.

7. Governors unanimously supported the unification of trade charges right into a single, market-determined window and the usage of the market-determined trade fee to calculate all revenues as a result of Federation.

eight. Lastly, Governors reiterated the significance of canceling all deductions and deferring or restructuring all business debt service funds on federal authorities and CBN-owned money owed.

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