Ondo Gets N7.03bn Paris Club Refund

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By James Sowole in Akure

The Ondo State Government Thursday confirmed the receipt of N7.03 billion as its own share of the second tranche of the Paris Club refund.

The confirmation of the receipt was contained in a statement signed by the Chief Press Secretary to the governor,  Mr Segun Ajiboye, stating that at least 32.68 per cent of the fund would be spent on the payment of local government workers’ salary arrears, while the state government would receive 67.32 per cent as its own share.

“Based on the agreement reached between the states of the federation and the Federal Ministry of Finance, 75 per cent of the share received by the state is devoted to payment of salaries and pensions, while 25 per cent is devoted to capital projects.

“As a responsive government, the present administration is committed to use the funds for the purpose it was designed for.

“The governor sought the support of the workers and the people of the state in his desire to lay a solid foundation for a prosperous state,” he said.