EKITI State Government and Peoples Democratic Party (PDP) governorship aspirant, Prince Dayo Adeyeye Friday disagreed on the debt profile of the state.
Adeyeye described as worrisome and alarming, the debt profile of the State under the Governor Kayode Fayemi; saying; “It would have even been better if the huge loan already obtained by the State government was spent on income-generating projects.”
Adeyeye in a statement said, “The Fiscal Responsibility Commission (FRC) had in its report, said the total indebtedness of Ekiti State stood at N35.98bn as at December 31, 2011. FRC said the State debt profile of N35.98bn as against its revenue profile of N44.97bn was against the limit of 50 percent of annual revenue in the previous 12 months set by the Debt Management Office (DMO).
The governorship aspirant who spoke through the Director General of his campaign organization, Hon. Bisi Kolawole called on the Central Bank of Nigeria (CBN), Security and Exchange Commission (SEC), and other financial clearing houses to put a stop to the rate at which the state government is obtaining loans.
He disclosed that as at October 15, 2010 that Fayemi assumed office, Ekiti State Bank loan and borrowings amounted to N7.5 billion and these included the outstanding loans of N3.4 billion obtained by civil servants in the state on which deductions were being made from their salaries.
He said there was also counterpart fund borrowed from the Millennium Development Goals (MDGs) and State Universal Basic Education Board (SUBEB) for which the balance of N3 billion was left in various accounts of MDGs and SUBEB.
But the state commissioner Mr Dipo Kolawole said Adeyeye was using false figures to mislead the people and score cheap political points. He disclosed that the state government got bond of N20b and half of it has been paid.
According to him, “When we came here we borrowed N20b. We have paid half of the money. It is like a man that says I need a house in seven years, he can wait until that period while still paying a rent or borrow money to build a suitable house. The money that we borrowed is based on need. We just hope that some politicians with ulterior motives are not trying to cook some mischief here.