Thursday, July 31, 2025

The Truth Banishes Fear!

Paris Club Refund: Ondo Government Confirms Receipt of N7bn

Hamilton Nwosa
Writer

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

The Chief Press Secretary to the Governor, Segun Ajiboye, said  in a statement 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. Oluwarotimi Akeredolu, 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,” Mr. Ajiboye added. (NAN)

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