Ekiti, Adeyeye Disagree On Debt Profile

Ekiti, Adeyeye Disagree On Debt Profile

EKITI State govt and Peoples Democratic birthday 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 underneath the Governor Kayode Fayemi; saying; “it might have even been higher if the large mortgage already bought by way of the State executive was spent on earnings-producing projects.”

Adeyeye in a observation stated, “The Fiscal duty commission (FRC) had in its document, mentioned the entire 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 once against the limit of 50 percent of annual revenue in the previous three hundred and sixty five days set by using the Debt management place of business (DMO).

The governorship aspirant who spoke in the course of the Director common of his marketing campaign group, Hon. Bisi Kolawole called on the critical financial institution of Nigeria (CBN), security and trade fee (SEC), and different monetary clearing homes to place a cease to the speed at which the state government is acquiring 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 incorporated the outstanding loans of N3.4 billion acquired with the aid of civil servants in the state on which deductions had been being constructed from their salaries. 

He mentioned there was once also counterpart fund borrowed from the Millennium construction targets (MDGs) and State universal normal education Board (SUBEB) for which the steadiness of N3 billion used to be left in various accounts of MDGs and SUBEB.

but the state commissioner Mr Dipo Kolawole said Adeyeye was once the use of false figures to deceive the individuals and score low-cost political factors. He disclosed that the state govt bought bond of N20b and 1/2 of it has been paid.

according to him, “when we got here here we borrowed N20b. we have now paid half of the money. It is sort of a man that says I want a home in seven years, he can wait until that period whereas nonetheless paying a employ or borrow money to construct an acceptable house. the money that we borrowed is in keeping with need. We simply hope that some politicians with ulterior motives should not seeking to prepare dinner some mischief right here.