We Got N7.3billion Paris Club Refund- Ondo Govt
The Ondo State government has confirmed the receipt of N7.3 billion Paris Club refund from the Federal Government.
This was contained in a statement issued and signed by the Chief Press Secretary to the Governor, Mr. Segun Ajiboye and made available to newsmen on Thursday in Akure, the state capital .
According to Ajiboye, the state received a total sum of N 7,003,648,314,28 billion.
Ajiboye said , 32.68 percent of the money will be allocated to the local government areas, while the state government will receive 67.32 percent as its own share.
The statement said , “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 Arakunrin Oluwarotimi Akeredolu, is committed to use 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.”