Fayose bemoans heavy debt burden at inaugural

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The new Ekiti State Governor, Mr. Ayodele Fayose will today disclose that his predecessor, Dr. Kayode Fayemi left a legacy of ‘heavy debt dungeon’, running into N60.75 billion.

Fayose will disclose the state’s debt profile in his inaugural address immediately after his swearing-in, as governor of the state. It will be his second time of taking the oath in 11 years. In 2003, Fayose had succeeded another governor, Adeniyi Adebayo.

” I report to you that our state had been plunged into heavy debt dungeon of over forty nine billion Naira by own own brothers and sisters as follows: bond (capital market) and agriculture loan, N21..2b, other bank loans, N15.5b, outstanding, salary (two month), N2.4b, unpaid subventions to parastatals and tertiary institutions, N70m, 2014 leave bonus, N400m, unpaid pensions and gratuities, N3.2b, unremitted withholding taxes and other deductions, N850m and indebtedness to contractors, N10b totaling N57.45B.”

In his lamentation of the debt burden, he will also give out a profile of the state’s income. Ekiti, he says earns an average of N3.3billion monthly.

“Today our state has been committed financially up and until year 2020, even beyond my own administration. The proportionate benefits of this huge debt to our people remain to be seen or felt by the ordinary man and woman in our state,”he added.

He will say he does not intend to join issues with the immediate past administration which was substantially responsible for this debt adding:

“I consider it expedient that this parlous position of our finances be made known to members of the public who gave us the mandate to be here. I therefore appeal to our people to show understanding at this period and be wary of their distractive tendencies, unfounded rumours and outright propaganda of falsehood, as the new government finds appropriate solutions to this immediate challenge.”

“Good people of Ekiti State, it is highly regrettable that we were made to swim against the tides in the last eight years. The popular will of the majority of our people was supplanted with the selfish interests of a powerful few.

“We were seized in the jugular by power mongering demagogues in hallowed democratic institutions who produced pretenders and interlopers to superintend over us. The ship of state drifted with neither a compass nor a navigator. Our state witnessed many tragedies, including destruction of human lives and properties. There were waste and unproductive expenditure of huge sums of money, considerable slowing down of progress, and incalculable sufferings and deprivations.”

Fayose will declare that Ekiti State has returned to the mainstream of Nigerian politics stressing that he would ensure strategic partnership with the Federal Government and its agencies.

“We shall make our contributions in human and natural resources to the Nigerian commonwealth and also ensure that we secure our dues. We shall collaborate with foreign missions and development partners in our developmental strides.”

The new governor will promise that he would study the objectives of the existing regional political and economic groups in the South West and make his inputs and decisions as appropriate.

As regards the local government administration, Fayose will condemn the 19 Local Council Development Areas (LCDAs), created by his predecessor.

Betraying what he would do with the LCDAs, Fayose will say he would be guided by the provision of section 3 and part 1, first Schedule of the 1999 constitution on the list of local governments in Nigeria, in the allocation of resources to the local council. The LCDAs do not feature on this list, meaning they are going to be starved of funds and die naturally.

Promising to introduce the people-oriented programmes, Fayose promised that his government would encourage increase agricultural production towards ensuring food security for local consumption and export.

Fayose will further promise that he would strengthen education, health security, public service, and pay attention to the infrastructural development of the state.

” Good people of Ekiti State, the last minute attempt by the opposition party to truncate the mandate which you freely entrusted to me on June 21 has clearly confirmed the true character and direction of interest of these political desperadoes.

“Their machination is to demonise and portray me as a violent person. The role and indeed the open conduct of some of the judicial officers in the plot, are already being investigated by the appropriate authorities. As we await the outcome, my government will join hands with the appropriate authorities in ensuring that no stone is left unturned in the retracking of our hallowed democratic institutions from slide and bastardisation. The judiciary should be truly repositioned as the actual temple of justice and last hope bastion of hope for all.”

Eminent Nigerians, politicians, traditional rulers were streaming to the inaugural ceremony at Oluyemi Kayode Stadium, in the state capital.

As early as 7am, security operatives mainly policemen, men of State Security, DSS, men of civil defence, had taken their position in the town to provide adequate security during the event.

Also residents trickled into Oluyemi Kayode Stadium, the venue of the inauguration.

So many were the people who assembled that security men had a hectic time controlling them.

By midnight, PDP loyalists in heralding the event, had a display of fireworks, with the skies of Ado-Ekiti literally glowing.

This created its own drama, as residents not privy to the show, mistook it for an invasion by gunmen.

Some security personnel almost took on the people behind the fireworks, but were told the show was part of the celebration of the transition in the state, an All Progressive Governor giving the baton to a Peoples Democratic Party governor. It was they said a celebration of a new dawn in the state.

Update: The report was initially based on an advance copy of the new Governor’s speech. We had to re-edit as the ceremony was yet to take place when we posted.

source: pm news

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