Fayose blames Fayemi for financial crisis in Ekiti

Posted by News Express | 13 June 2016 | 1,779 times

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Ekiti State Governor, Ayo Fayose has blamed his predecessor, Kayode Fayemi for the state’s indebtedness.

Fayose made his comments on Sunday, June the 12th, via a statement issued by his Chief Press Secretary, Idowu Adelusi.

The statement reads in part:

A state like Ekiti without any industry and Fayemi administration would post that it realized between N600 million and N700 million monthly from IGR whereas in the actual sense Ekiti IGR had never gone beyond N300 million or N350 million monthly.

The labour should hold the Fayemi Administration responsible for the economic woes in the state and stop castigating me.

During my first term, I did not borrow a dime to run the state. I paid salaries on 22nd of every month. When I was going in October 2006, I left N10.4 billion in government coffers.

As a responsible governor, the state cannot be financially buoyant and I will refuse to pay the workers. A child cannot ask a good father for fish and the father will give him stone. I have been sounding the warning about the nation’s economy since last year.

For the N25 billion bond Fayemi took from the capital market, the state pays over N600 million monthly to service it and we will pay till 2022. On the bond money, there is an irrevocable standing order for the monthly deductions; the Federal Government has no power over that. It was the commercial loans they took that were converted to bail-out funds by the Federal Government and we pay over N300 million to service the debts monthly and that will subsist till 2036.

Also, they left debts on fertilizer, vehicles purchased for different reasons and groups and other commitments for which over N100 million is deducted from our monthly allocation. If these funds are not deducted and we have them at hand, our situation would have been better than this. •Sourced from TVC. Photo shows Kayode Fayemi.  

Source: News Express

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