Imo State Governor Emeka Ihedioha yesterday disclosed that about N3.5b of the N5b the state receives from the Federation Account Allocation Committee (FAAC) monthly goes for payment of salaries and pensions.
Ihedioha, who stated this while presenting the 2020 budget estimates to the state House of Assembly in Owerri, said the figure represents about 70 percent of the state’s monthly takings.
READ ALSO: Governor Ihedioha Promise To Solve Pension Problems In Imo State (Photos)
“It is important to state that payment of salaries and pensions remains the bulk of our recurrent expenditure.
“These figures are significantly higher than what was spent by the previous administration, primarily because, while they paid workers a reduced sum based on an arbitrary percentage of their earnings and owed pensions.
“We have not only commenced payment of pension arrears but also full payment of workers entitlements,” he stated.
Follow Us On Facebook
Post Disclaimer
The opinions, beliefs and viewpoints expressed by the author and forum participants on this website do not necessarily reflect the opinions, beliefs and viewpoints of Anaedo Online or official policies of the Anaedo Online.