Ondo Assembly approves service elongation of academics, endorses N50b loan bond

The Ondo State House of Assembly has passed a bill seeking an amendment to the retirement age of workers in tertiary institutions from 60 to 65 years.

The bill which is awaiting the consent of the state governor, Mr Rotimi Akeredolu, has raised the retirement age of tertiary institutions workers in the Professorial cadre to 75 years while raising other categories of workers, which include teaching and non- teaching to 65 years.

The retirement age of lecturers in the Professorial cadre was 65 years while other categories of workers retire at the age of 60 years before the amendment by the state lawmakers.

The lawmakers stated that the amendment became necessary with the invaluable contributions of University lecturers to the development of humanity.

According to them, the amendment has been long overdue since their counterparts at the Federal level were already enjoying the benefit.

“Lecturers in Federal Universities have since been enjoying the benefit hence the need to extend same to state tertiary institutions in view of their numerous contributions to the society.

The lawmakers were said to have approved the bill in unanimous voice votes seeking that the law should take effect from January 2019.

Beneficiaries of the amended law include the state-owned Universities, Polytechnics, Monotechnics, Teaching Hospitals, Research Institutes, and Colleges of Education.

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In a related development, the House has approved that the state government should access a N50 billion bond to facilitate infrastructural development of the state.

Speaking on the request by the state government, Chairman House Committee on Finance and Appropriation Sunday Olajide, said the lawmakers considered the approval of the loan based on the infrastructural strides of the Akeredolu led government.

According to him, it became necessary for the House of Assembly to throw its support behind the request to accelerate development in the state.

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The House therefore unanimously gave the approved the loan bond which would come in two tranches, explaining that the first tranche of N30 billion will be accessed now while the balance of N20 billion will be accessed later.

In the same vein, the House equally approved the state government’s request in favour of the Water Resources, Sanitation and Hygiene Ministry’s bid to access a facility of N702 million counterpart fund which is part of the $2.3 million being managed by the Federal Ministry of Water Resources which will covers goods, works, services and training.

The Chairman House Committee on Finance and Appropriation, while presenting the committee’s report to the House observed that the facility which has the water sub-sector of the economy as it’s target will equally have positive effects on other areas of the economy.

The Committee noted that the requirements for the assessment of the facility is friendly in view of the numerous benefits to the people. After a thorough debate on the committee report, the House Unanimously granted approval for the government to access the fund.