Dwindling Oil Prices: Akwa Ibom Govt Slashes Salaries Of Political Appointees By 20%
The Akwa Ibom state government has slashed the salaries of political office holders in the state due to the dwindling oil prices.
Governor Udom Emmanuel of Akwa Ibom state has directed the slashing of salaries of all political office holders by 20% due to the dwindling oil prices.
A statement released this evening by the Secretary to the State Government, Dr Emmanuel Ekuwem, said the Governor was confronted with an urgent need to take the decision on either of two painful options: continue to pay the current salaries for a while and end up being totally unable to pay same subsequently or spread the discomfort (20% cut) sustainably over a period of time pending the return of crude oil price to normalcy in the global market.
The state government says the slash in salaries is temporary and that full payment of salaries will commence when the economy becomes better.