Aketi's Political Will Has Helped to Stabilize the State Financially- Akinteriwa The Honourable Commissioner for Finance in Ondo State, Mr. Wale A
Aketi’s Political Will Has Helped to Stabilize the State Financially- Akinteriwa
The Honourable Commissioner for Finance in Ondo State, Mr. Wale Akinterinwa, has explained how some lost funds have been retrieved into the state government’s coffers with accrued interest paid.
Akinterinwa said Governor Oluwarotimi Akeredolu’s scrupulosity and prudent management of resources has stabilized the state finances to the extent that salaries are now being paid as and when due.
Briefing some journalists in Akure, the commissioner said they have been able to mobilize several billions for infrastructural needs and other financial obligations.
He said the assemblage of a think thank team led to increment in Internally Generated Revenue surpassing budget in all years since the inception of Akeredolu’s administration.
The Commissioner however listed some of the achievements recorded since 2017 of which restructuring of the old bond was carried out to free more cash for government spending besides raising another N30bn from both the capital market and private placements.
He said further that the government has been able to offset six months out of outstanding seven months’ salary arrears inherited from previous administration, as well as payment of several billions in pension and gratuity arrears.
His said, “We have surpassed our IGR budget with several billions of naira and revamped the Land Use Charge for improved revenue generation. Government investment portfolio was restructured for capital gains and increased revenue generation.
“There has been effective and efficient management and allocation of government resources even as we improved efforts to source for cheap funds in form of grants, donations and
loans from donor, and development partners.
“We have sourced for cheap funds from financial institutions to augment government’s resources whenever the need arises and advised the Governor on effective and efficient allocation of state’s resources.”
He assured the people of the State that the best of Akeredolu’s government is yet to come.