Oyo State Government has confirmed the receipt of N7.2 billion from the Paris Club excess deductions.
This is the amount accruable to the state from the N522.74 billion that the FG paid to all the states of the federation as reimbursement from the excess deductions on the loan collected from the Paris Club.
The information disclosed by Toye Arulogun, the State Commissioner for Information, Culture and Tourism, while talking to newsmen in Ibadan.
This payment grants credence to the state governor, Abiola Ajimobi’s, claims during the state’s annual inter-religious service that the money had not being remitted to the state yet. Adding that he was hopeful it would be remitted soon.
The state government had announced in December 2016 and reiterated in January 2017 that the state was excluded from the initial beneficiary states of the Paris Club over-deduction funds.
Arulogun said that the governor had mandated the state Ministry of Finance to reconcile accounts with the Federal Ministry of Finance, which resulted in the payment of N7.2 billion to the state.
He also explained that 60 per cent of the fund collected was added to the federal allocation to the state to pay salaries of workers for the months of August and September 2016.
“The state appreciates the cooperation of the Minister and Federal Ministry of Finance officials, who facilitated the payment that has brought some degree of succour to workers in the state.
“The state government will be able to deliver more dividends of democracy to the people,” Arulogun said.