Fayemi Defrays N31bn Debt Inherited from Fayose

  • Says 2020 will be year of life-changing projects• 

Governor Kayode Fayemi of Ekiti State on Wednesday disclosed that his administration has defrayed N31,105, 658,370.89 amounting to 26 per cent of the total debt inherited by his administration from the immediate past government of Mr. Ayodele Fayose.

Delivering a State of the State address at the State House of Assembly, the governor said the sum was expended to defray salaries, pension, gratuity, subvention arrears and contractual claims and obligations owed by Fayose.

Fayemi however assured that despite the burden of inherited debts, the year 2020 would witness a massive commissioning of projects and institutionalising of more life-changing programmes.

The governor who described the failure of the immediate past government to meet its obligations to workers and pensioners as a violation of fundamental human rights stated that his administration is focusing on how to offset the remaining backlog of salaries, pension, subvention arrears and contractual debts.

He added that his administration has equally tackled financial  challenges to complete key projects, which would be commissioned this week, adding: “You are aware that the past administration owed salary, pension, gratuity, subvention and contractual claims. Since we came on board, despite economic challenges, our administration has, to some extent, fulfilled most of our promises. We have also offset part of the arrears and debts owed by the past administration.

“We have so far defrayed a total sum of Thirty-one billion, one hundred and five million, six hundred and fifty-eight thousand, three hundred and seventy Naira and eighty nine kobo in salary, pension, gratuity and subvention arrears, and contractual claims and obligations, which represent about 26% of the total inherited debt.

“We have been consistent with the payment of salaries and pensions of our workers. It is a violation of fundamental human rights for people to labour in vain.

“Our focus now is on how to gradually offset the remaining backlog of salary, pension and subvention arrears and contractual debts. Just like I assured the civil servants at the maiden edition of the resuscitated interactive session with them, I want to restate again that your arrears are not bad debts”, he said.

While revealing plans for the second year of his administration, Dr. Fayemi said his government would not rest on its oars as legacy projects such as the AfDB supported Agro-cargo Airport, the Knowledge Zone, Ado Ekiti Ring Road, Ado – Akure dualisation, Agric Processing Zone and World Bank supported projects would be actualised.
The Governor said he has kept his promise to restore dashed hopes by bringing life back to moribund Ikun Diary Farm through a partnership with Promasidor Milk Company “with plans to produce 9000 litres of milk daily over the next two years”.

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