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Title : How Ondo State will spend its own share of Paris Club refund
link : How Ondo State will spend its own share of Paris Club refund

How Ondo State will spend its own share of Paris Club refund

The Ondo State government on Thursday confirmed the receipt of its own share of the Paris Club refund.

The state got N 7, 003, 648, 314, 28 billion from the second tranche of Paris Club refund.

A statement issued by the Chief Press to the State Governor, Segun Ajiboye, said at least 32.68 per cent of the fund would be earmarked for payment of local government workers’ salaries arrears, while the state government would receive 67.32 per cent as its own share.

The statement said: “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 percent is devoted to capital projects.

“As a responsive government, the present administration is committed to use the funds for the purposes they 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. “

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