Ondo govt confirms receipt of N7B

July 20, 2017 7:37 PM

Ondo state government have confirmed the receipt of N7billion as its share of the second tranche of the Paric Club loan refund.

Rotimi Akeredolu

The Ondo State government on Thursday confirmed the receipt of N7 billion as its share of the second tranche of the Paris Club refund.

Recommended articles

local Nigeria laughing stock of the rest of the world due to insecurity - TY Danjuma
local Plateau Gov urges calm after attack that led to death of 200-level PLASU student
local NAFDAC reopens popular Ibadan supermarket shut for selling unregistered product

The Chief Press Secretary to the Governor, Mr Segun Ajiboye, said in a statement in Akure on Thursday that 32.68 per cent of the sum would be allocated to local government councils while the state government would keep 67.32 percent as its share.

“It is also important to note that according to the agreement reached between the states of the federation and the Federal Ministry of Finance, 75 percent of the share received by the state is devoted to payment of salaries and pensions while 25 percent is devoted to capital projects.

“As a responsive government, the administration of Gov. , SAN, is committed to using the funds for the purposes they are meant to be used for.

“The governor continues to seek the support of the workers and the people of the state in his desire to lay a solid foundation for a prosperous state,” Ajiboye added.

Gbenga Bada

Enhance Your Pulse News Experience!

Get rewards worth up to $20 when selected to participate in our exclusive focus group. Your input will help us to make informed decisions that align with your needs and preferences.

I've got feedback!