Ondo State: Breakdown of Akeredolu’s inherited debt

Gov. Oluwarotimi Akeredolu of Ondo State says his administration inherited a debt burden of N220.58bn at its inception.

Akeredolu made this known in Akure on Wednesday while swearing-in commissioners and special advisers.

BREAKDOWN OF DEBT LEGACY

Internal Debt: N53.15billion

External Debt, N17.48billion;

Unpaid Salaries and Allowances (Aug.-Dec. 2016): N17.27billion;

Unpaid Salaries and Allowances(Jan.-Feb. 2017): N6,91billion,

Ondo State Pension Liabilities: N4.80billion;

Ondo State Gratuity: N15.04billion;

Unpaid Local Government Salaries and Allowances (Aug.-Dec. 2016): N9.3billion;

Unpaid Local Government Salaries and Allowances(Jan.-Feb. 2017): N5.19billion.

Local Government Pension Liabilities: N25.23billion;

Local Government Gratuities: N20,96billion;

Contractors’ Liabilities: N39.74billion;

Outstanding payment requests without cash backing, (Office of the Accountant-General): N5.45billion