Ondo Assembly Signs N14.6bn Loan For Salaries

The Ondo State House of Assembly has approved that the state can access a loan of N14.16 billion from the federal government to pay workers’ salaries.

The House led by its speaker, Princess Jumoke Akindele gave the approval at its plenary session where members passed a motion to enable the state to access the loan to be granted by the federal government to enable many states of the federation including Ondo to pay their workers’ salaries.

The loan, which was meant strictly for recurrent expenditure would attract an annual interest of nine per cent within 10 years inclusive of one year moratorium.

Hon Jamiu Maito representing Akoko North West constituency I appealed to members of the House to take the request seriously. He stressed that  this will go a long way to alleviate the suffering of workers who were at the receiving end of the current economic crisis in the country.

While also contributing to the debate, the Minority Leader of the House, Hon Musa Mukaila of Owo constituency II reiterated that the loan is strictly for recurrent expenditure particularly when the loan is at minimal interest rate. He added that by accessing the loan, government would be able to pay salaries of striking civil servants.