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Fayemi: My Govt Left N36bn Debt, Not N84bn

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IMAGE: Dr Kayode Fayemi, Former Governor of Ekiti State »


Former Governor of Ekiti State,  Dr Kayode Fayemi, has come out with his position on the level of indebtedness of the state, saying what it was owing as at October 15 was N36.3 billion, contrary to the N84 billion being touted by Governor Ayodele Fayose.

Fayose had in his inaugural speech put the state’s debt profile at N57 billion. A day earlier, he had put the figure at N84 billion during a television interview.

This is coming as a chieftain of the All Progressives Congress (APC), Hon. Ranti Adebisi, urged Fayose to bury the erroneous thought that his emergence would constitute a cog in the wheel of the party’s performances in the 2015 general elections, saying the party would give the PDP a tough time at the poll.

Adebisi, a former governorship aspirant and immediate past Chairman, Ekiti State Local Government Service Commission, advised the leadership of the party to field those with grassroots connection to be able to confront the Peoples Democratic Party (PDP) in the coming polls.

In a statement in Ado Ekiti yesterday by his media Aide, Yinka
Oyebode, Fayemi said: “For the avoidance of doubt, the indebtedness of the state as at October 15, is N36,316 billion. Of this amount, the sum of N7.830 billion  represents foreign loans incurred by previous government since the days of the old Ondo State.

“The remaining sum of N28, 485 billion  represents internal loan. This include inherited loans from previous government and outstanding balance (debt) of  the bond taken at the capital market.”

The ex-governor said in spite of this, the federal government was owing the state the sum of N17,7 billion , which include a sum of N10. 8 billion being amount expended on the construction of federal roads; N4.01 billion being refund on Paris Club and N2.8 billion  being amount due on ecological projects.

Fayemi said the economic prowess of the state would have been boosted and debt burden reduced if the federal government had graciously effected part of this payment.

“While Fayose alleged that the state account was in red, the state bank balances as at October 15 stood at N1.9 billion. This comprised of N1.463 billion  (state account) and N466.93 million (local government account). Also the Bond Sinking Fund Account balance as at September stood at N3.019 billion.

“Nothing could be farther from the truth than Fayose’s allegation that none of the MDA’s account had up to N1million. For instance, the Ministry of Agriculture’s account is in the excess of N90million, while the MDG account has close to , 1billion,” Fayemi said.

He said in all this, the Debt Management Office (DMO), a federal government agency, still rates the  state as one of the least indebted states in the country.

Speaking in Ikole Ekiti while declaring his senatorial ambition for
Ekiti North senatorial district at the weekend, Adebisi, who warned the party against imposition in preparation for 2015  elections, canvassed for open primaries for APC to produce credible candidates that can give the PDP a run for its money.

He said: “The party remains undaunted in the face of the huge challenge posed by Fayose’s popularity. APC is still a party to beat in Ekiti.

The loss we suffered in the June 21 election is no barrier to us. This is a local election and our people are no fools, they know who and who can represent them well.

“But I want to assure you that I will not be like those who are doing well in Abuja but refuses to do well  at home where they were voted for. I will connect with you in a way that will make you feel and benefit from this democratic dividends”. Adebisi assured that he would  make contacts with all the necessary federal government’s  ministries, agencies and  departments to attract federal presence to the state.

Article Credit: Thisdaylive

Updated 4 Years ago

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Tags:     Dr Kayode Fayemi     Governor Ayodele Fayose     APC     Ranti Adebisi     DMO