Jonathan sacks PEF boss
Newspaper of the Year
NEWS Page 4
•New appointments
•AND MORE ON PAGES 4,5,8&56
•Reps shoot down motion to end fuel subsidy •Agbaje gets tribunal’s nod to inspect materials •14 lawmakers demanded money from me, says Chime •Benin school pupils find fresh grave in classroom
•Nigeria’s widest circulating newspaper
VOL. 10, NO. 3206 WEDNESDAY, MAY 6, 2015
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TR UTH IN DEFENCE OF FREEDOM TRUTH
N150.00
•INSIDE: EX-MINT BOSS URGES COURT TO QUASH ORDER P6 DMO TO RAISE N60B BOND P55
Cash crisis: APC governors urge Buhari to rescue states Fed Govt borrows N473b to pay salaries, says Okonjo-Iweala
•Gen. Buhari (third right), Prof. Osinbajo (fifth left) with them (from left) are: Al-Makura, Ahmed, Ganduje, Odigie-Oyegun, Okorocha, Tambuwal in Abuja…yesterday. On the back row (from left) are: Shettima, Bindow, El-Rufai, Aregbesola, Abubakar, Lalong and former Ekiti State Governor Kayode Fayemi
T
HE gloomy state of the economy was laid bare yesterday. States are broke. Many of them are finding it difficult to pay salaries. Finance Minister Ngozi Okonjo-Iweala finally agreed yesterday that the economy is troubled. She said the Federal Government has borrowed N473 billion to meet up with recurrent expenditure, including salaries and overheads. The budgetary provision for borrowing is N883billion. All Progressives Congress (APC) governors and governors-elect urged President-
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WILL THE CHIBOK GIRLS KIDNAPPED ON APRIL 15, LAST YEAR EVER RETURN?
From Tony Akowe, Abuja
elect Gen. Muhammadu Buhari to bail out states. They told Gen. Buhari that the economy was in a very bad shape, requiring urgent attention. The President-elect said Nigerians should give his administration a chance to reposition the economy and restore confidence in the system. The governors, after a meeting on Monday night at the Imo Governor’s Lodge, met with Gen. Buhari at the Defence House in Abuja for over
THE FIGURES
N883b
•Budgetary provision for borrowing
N145.2b
•Economy under threat as debts hit N11tr —Analysis P2&3 one hour, urging him to do everything humanly possible to bail out the states so that
•Fuel subsidy in 2015 budget
N473b
•Cash borrowed to fund recurrent expenditure between January andApril
N45.52b
they can pay workers. Chairman of the APC Governors Forum and Imo State Governor Owelle Rochas Okorocha told reporters at the end of the meeting that they came to inform the President-elect about the challenges ahead of
•Kerosine subsidy in 2015 budget
him when he is sworn in on May 29 – 23 days away. Some of the states are owing between one month and six months salary arrears. Osun state is in arrears of four months. Benue and Plateau have five months to pay.
Oyo State is owing three months. Rivers and Imo are yet to pay workers for two months. Bauchi and Ekiti are owing one month. He said: “We came to pay a courtesy call on the President-elect who will be sworn in as President and Commander-in-Chief on the 29th of May, 2015 and also to familialise ourselves with the governors-elect of the Federal Republic of Nigeria. “One of the issue of concern to all of us is the state of the Nigeria economy, which is really in a bad shape and Continued on page 4
PDP governors shun election review panel’s inauguration Mu’azu absent Fayose insists NWC members should resign
STORY ON PAGE 4
•SPORTS P14 •LIFE P15 •MONEY P26 •INVESTORS P28 •POLITICS P45 •FOREIGN P59