The past governor of Ekiti state, Ayodele Fayose, has responded to the claims by the serving governor, Kayode Fayemi that the state is in great debt saying that Ekiti debt is not N170bn, that Fayemi is preparing grounds for impending failure
The immediate past Governor, insisted that his administration did not commit the State to any financial institution in form of bonds and commercial loans.
Fayose described the claims by Governor Kayode Fayemi that the State was indebted to the tune of N170 billion as false and “a way of preparing grounds for his impending failure just as he did when he assumed office in 2010.”.
Fayose’s Media Aide, Olayinka Lere, said in a statement issued on Wednesday that Ekiti State indebtedness was under N60 billion and that the debt was either directly incurred during Fayemi’s first tenure or as a result of the loans restructuring done at the instance of FEC.
He gave the breakdown as follows; Commercial Bank Loan, N2,087,788,065.28; CBN Grant for Water Project, N163,450,000; EC Act Backed Loan, N9,545,173,472.78; Bailout, N9,083,761,215.40; FGN Bonds, N18,226,699,707.18; State Bonds, N3,484,469,345.51 &Budget Support, N16,869,000,000.
Fayose challenged Governor Fayemi to name the banks being owed the N170 billion and monthly repayment by Ekiti State Government. Fayemi should not wait till 100 days to cook up false stories of how much debt was left by the past administration.
