FG to share ECA to fund states’ capital projects, says Fayose



APC chides governor over inconsistent debt figures

Ekiti State Governor, Ayodele Fayose has said that the Federal Government may soon disburse the over $2 billion remaining in the Excess Crude Oil Account (ECA) to state governments for them to be able to fund capital projects in their states.

Fayose who was featuring on a radio/television programme “Meet Your Governor” in Ado-Ekiti, said the step would be taken for the state governments to be able to embark or complete some capital projects.

The governor added that Ekiti could get about N10 billion from the fund saying that if the fund is released, the people would get to know.

“Nothing is no longer going into the Excess Crude Oil Account because oil is selling lower than the envisaged price in the international market. That has badly affected all of us. The 2015 Budget in Ekiti was predicated on oil selling at $65 a barrel, but it sells for over $40 now.

“That has left our budget performing only in the area of Recurrent Expenditure. You know that I call a spade a spade. Ekiti is expecting about N10 billion when the ECA fund is shared. When it comes, I will tell everybody. I don’t hide things.

“The capital projects that we have embarked upon since we came on board are being executed because we are prudent, transparent and open, and also because we are leveraging on goodwill with corporate bodies,” he said.

Meanwhile, the All Progressives Congress (APC) in Ekiti State has told the governor to stop deceiving Ekiti people over unrestrained reeling out of inconsistent debt figures that has become a permanent feature in his public speeches.

The party in a statement yesterday noted that inconsistent debt figures and deliberate bogus and unrealistic projects by Fayose is a ploy to deny the people dividends of democracy

It said the people are not fooled by the recalcitrant posturing in government, warning the governor to stop treating Ekiti people as children with scant capacity for reasoning.

Reacting to the recent declaration by Fayose that the state’s debts had risen to N252b, Publicity Secretary, Taiwo Olatubosun, said in the statement that the governor had turned himself to a “master juggler in a dishonest public show where two plus two may not be four”.

He said, “At assumption of office, Fayose told the world that former Governor Kayode Fayemi left N86b. Later, he sat up to reduce it to N56b and now, he has announced another figure of N252b that will be redeemed in 2036, all in an attempt to hide behind debt profile to deny people real development while living in private comfort as planned.

“He has come out again with the debts that will be redeemed in 2036 we wonder whether he will still remain the governor till 2036 and as such he is handicapped by debt burden to fulfill his obligations to Ekiti people”.

Olatunbosun said Fayose’s motive for his current lie was to deny the past political office holders payment of severance allowances even though payment of severance allowances were captured in the bailout cash so that he can help himself with the cash thinking the unsuspecting Ekiti people would not know.

“We want to make it abundantly clear to Ekiti people that Fayemi left a debt of N18.5b as he explained to the whole world on the floor of the Nigeria Senate chambers during his ministerial screening session and this has not been controverted.

“It is gratifying that Fayemi did not borrow to pay salaries; he borrowed to implement development projects and the projects are there across the state for the people to see

“The governor must pay severance allowances to the past political office holders as captures in the bail out protocol and we call on workers to insist on the payment of their entitlements while Ekiti people should demand for performance and should not be deceived by Fayose’s endless lies on debts profile of the state,” Olatunbosun said.

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