According to a statement on Sunday, Aregbesola said this on Friday while appealing to workers to persevere more during the Civil Service Week.
The labour leaders in the state on Friday announced that an indefinite strike would begin on December 27 following the refusal of the governor to pay them full salaries despite the receipt of N6.3bn as the third tranche of the Paris Club loan refund.
But the governor said his administration had judiciously managed its meagre resources to pay workers, carry out welfare programmes and execute projects.
Aregbesola disclosed that only 28 per cent of the state’s total workforce had been receiving modulated salaries, stating that the remaining 72 per cent of the workers had been earning their full salaries and were not being owed any outstanding salaries.
While acknowledging the workers’ perseverance since the modulated salary initiative started due to the financial crisis, the governor said the famine season would be over by March 2018.
Aregbesola said, “From July 2015 – when we started paying modulated salaries, our income from all sources, including gross allocation from the federation account, internally generated revenue and two tranches of the Paris Club Refund – to November 2017, is N121.6bn.
“Meanwhile, our total personnel cost (excluding gratuities) within the same period would have been N104.4bn if we had paid the full salaries of N3.6bn every month. Our personnel cost therefore is 85.8 per cent of our total revenues from all sources.
“However, this is an academic exercise because before the allocations get to us, some deductions would have been made on commitments already made since as far back as the 1970s, up till now; and we are also paying modulated salaries.
“The reality, however, is that our net income is N61.7bn while our real total personnel cost is N63.98bn. This stands at 103.6 per cent of our total net revenue. I obtained these figures from the Accountant General of the State and you can individually verify them in his office.
“The implication of this grim statistics is that we have spent more on salaries and emoluments than our revenues from all sources.”