FG borrows N600bn monthly to augment salary —SGF

The Secretary to the Government of the Fedearation (SGF), Mr Babachir Lawal, has stated that the present administration borrows nothing less than N600 billion monthly  to pay salaries of its workforce, saying with the present situation of things in the country, many states may not be able to pay salaries in the next three to four months.

 Lawal, who revealed this while representing President Muhammadu Buhari at the opening ceremony of the 63rd Evangelical Church of Wining All (ECWA) General Council Meeting, in Jos, on Tuesday, charged religious organisations and traditional institutions to sensitise the citizenry on the need to exercise patience concerning the hardship in the country, adding that the present administration inherited a country that was robbed to the last coffers, but assured that the country would bounce back within a short period of time.

According to him, the administration was not resting on its oar towards revamping the ailing economy, adding that stability could not be achieved overnight, and that the economy presently needed to be nurtured for sometime before it stabilized. He, however, pleaded with Nigerians to cooperate with the government to take the economy out of the woods.

His words: “N600 billion is on the average, if you look at monies coming from the federation allocation, even for the states, the Federal Government sometimes get 130 billion and, sometimes, if lucky, 200 billion and we have an expenditure profile of roughly N800 and N900 billion, naturally you need to augment sources from everywhere and from wherever you can find it.

“There are so many avenues. I’m talking about local borrowings, not international. There are ways and means to raise the money, because the monies coming from the federal allocation are not enough and the figures are not fixed. It varies from month to month. it depends on what it is able to get into the treasury and our own share of it, just like the states and you remember that there was a time Osun State got N55million in a month from the federation allocation and the state has a salary bill of over 4billion in a month, so the problems are too many.

“This government came into power at the very brink of the collapse of our nation, which had, over the years, been riddled by corruption, insurgency, youth unemployment and economic meltdown. Some stolen funds have been recovered from the corrupt public office holders and negotiations are ongoing with the host countries where those funds were lodged to repatriate our common wealth.”

On the rate of unemployment in the country, the SGF said government was still strategising to open up the industrial sector and create employment opportunities for the teeming youth by encouraging all agencies and parastatals, as well as foreign investors, to open up more employment opportunities and skill acquisition activities in the country.

Earlier, the President of ECWA, Reverend Jeremiah, urged government at all levels not to do anything that would forbid God’s will from being done in the country and urged governors to be fair to all, irrespective of party affiliation, religion or tribe.

He charged the present administration to “serve God and the people of Nigeria with distinction in fairness, justice and equity.”