Gov. Lucky Aiyedatiwa of Ondo State in demonstration of his continued commitment to the welfare of workers in the state, has approved increases in Car Loan, Housing Loan and Duty Tour Allowance (DTA) payable to all categories of workers in the state public service.
Announcing the approvals in his office on Friday, the State Head of Service, Chief Segun Odusanya, said the decision followed the Governor’s recognition that the existing rates were no longer in conformity with prevailing economic realities.
Odusanya noted that the existing ceilings for the Housing Loan and Car Loan schemes could no longer adequately serve the purposes for which they were established, as their value had been significantly eroded over time.
According to the Head of Service, both the Car Loan and Housing Loan schemes were last reviewed in 2013 and had since become due for further review.
“While these schemes have continued to provide considerable relief to beneficiaries, the current economic realities, characterised by high inflation, escalating construction costs and rising prices of motor vehicles, have significantly eroded the purchasing value of the existing loan ceilings.
“The new approval by Mr. Governor is intended to restore the effectiveness of these welfare schemes by aligning the loan ceilings with prevailing economic realities, thereby making them more meaningful and beneficial to public servants.”
Also reviewed upward, according to Odusanya, is the DTA payable to officers undertaking official duties within and outside state and outside the country.
The Head of Service further disclosed that the Governor had approved an additional ₦500 million seed fund for the Car Loan and Housing Loan schemes.
Odusanya expressed profound appreciation to Aiyedatiwa for consistently prioritising the welfare of workers, saying the three-pronged approval would go a long way towards boosting the morale of the workforce.
He added that the enhanced welfare packages would further strengthen the commitment of workers to supporting the administration in the delivery of its programmes and development agenda for the people of Ondo State.