The Ondo State Government has reduced the N220B debt inherited from the immediate past People’s Democratic Party (PDP) government by over fifty percent.
The government said it has also increased the Internally General Revenue (IGR) of the state from the N700Million inherited from the PDP administration to over N1Billion monthly.
The state commissioner for Information and Orientation, Donald Ojogo made this known while featuring on Channels Television current affairs programme, Sunrise Daily on Monday.
The Commissioner said Governor Oluwarotimi Akeredolu’s administration signed a pact with the people of the state to ensure all-round development in the three senatorial district of the state.
According to the government spokesperson, the Akeredolu administration has been unrelenting in its efforts to use Industrialization to drive the fortunes of the state, particularly on improved IGR.
Asked whether the N30billion bond which the state sought to borrow won’t put the state in more debt as being insuniated by the PDP, Ojogo explained that since the government wasn’t sourcing for loans from banks or any other means other than the capital market, the loans will surely be sorted in line with extant financial provisions.
He said:”Our resolve as a government is that by the time we leave office in the next five years, I said in the next five years because Mr. Governor is going to recontest and win by God’s grace, we hope to leave the government without debt for the incoming administration after our two terms.
“The PDP will not deny the fact that we are constricting a flyover in Ore, we have leveled up a hill in Ikare and made it dual carriage way, we are changing the face of Akure with massive infrastructure.”
On the minimum wage, the Information Commissioner said the state government’s approach to the payment was unique, adding that unlike some states, the government has agreed to pay the N30, 000 new minumum wage and leave bonus separately.
He assured that the Akeredolu administration will remain workers’ friendly.