Osun to Defray Salary Arrears on Receipt of N11.7bn Refunds

Governor of Osun State, Rauf AregbesolaGovernor of Osun State, Rauf Aregbesola
  • Osun to Defray Salary Arrears on Receipt of N11.7bn Refunds

The Government of Osun has officially confirmed the receipt of a sum of N11,744,237,793.56 as part of the refunds from the Paris Club loans deductions through the Federal Government.

A statement by the government, through the Bureau of Communication and Strategy, Office of the Governor, said that based on the received fund, the Governor has approved an upward review of the existing salaries and pensions payment structure with the aim of further easing the financial strains foisted on the workers and pensioners as a result of the national economic challenge the country has faced in recent times.

After exhaustive deliberations by the Revenue Apportionment Committee which comprises representatives of workers and the government, under the leadership of Comrade Hassan Sumonu; a foremost labour leader, the following decisions have been agreed upon as the reviewed payment structure:

That workers from Level 1-7 continue to be paid their 100% salary
That workers on Level 8-10 to now be paid 75% salary
That workers on Level 12-Above to be paid 50 % salary
In the same vein, passive workers (pensioners) on N1,000 -N20,000 to collect 100% pensions

That pensioners on N20,001 -N80,000 to collect N75% pensions
That pensioners on N80,001 to continue to collect 50% of pensions
The government, on the basis of the newly reviewed payment structure, is to pay salaries and pensions of September, October and November as from Monday December 19th, 2016.

The Government also expressed appreciation for the high sense of responsibility, patriotism, and love for the development of the state as exemplified by their understanding and cooperation with the government.

The Government further wished to assure the entire people of the state that laying a solid foundation for future development of the state is paramount. This is the reason for the ambitious and courageous development projects in education, roads infrastructure, health, security, agriculture, youths employments and other social welfare programs of the Rauf Aregbesola administration.

It, therefore acknowledged the sacrifice of all in the course of the government navigating through the turbulent economic period. The government wishes to state that with the cooperations of our people, our state is destined for greatness.

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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