Nigeria, June 15, 2016 – Ekiti State Governor, Mr. Ayodele Fayose has continued to blame his predecessor, Dr. Kayode Fayemi who is now Minister for Solid Minerals for the drop in May, 2016 federal allocation to the state.
According to Fayose, Net Federal Allocation to Ekiti for the month of May was N1, 266,814,083.38 after deductions. He said that the total allocation was N1, 860, 919, 359.32, broken down as follows, Statutory Allocation – N1,210,511,781.51, VAT – N626,846,172.58, Recovered Excess Bank Charges – N9,989,368.69 and Exchange Rate Gains of N13,572,036.54.
He added that total deduction for the month was N594, 105,275.94 broken down as follows: Foreign Loan N30,217,966,49, Contractual Obligation (ISPO) N397,196,808.00, Commercial Agric Credit Scheme N23,120,001.44, Bond Issuance – N102,458,000.01, NUWSR (Water Project) – N41,112,500.00, FG Salary Bailout – N86,405,567.03 (Not deducted), Excess Crude Loan – N179,945,191.18 (Not deducted), Commercial Bank Loan – N248,153,651.78 (Not deducted), leaving the state with a net allocation of N1, 266,814,083.38.
“Total sum of N514, 504,409.99 (FG Salary Bailout, Excess Crude Loan and Commercial Bank Loan) was not deducted from the May allocation as part of FG assistance for the States. Total deduction ought to have been N1, 108,609,685.93 and this would have left the State with N752, 309,673.39”, he said, adding that the bailout funds was obtained to enable his government pay August and September 2014 salary of workers including political appointees and May, June and July 2014 cooperative and union deductions that the former governor declined to pay.
“The Bailout Fund was taken to pay August and September, 2014 salary of workers (including political appointees) and May, June and July 2014 Cooperative and Unions Deductions that the APC govt of Dr Kayode Fayemi did not pay.
“ If Ekiti State was not plunged into debt by the APC govt of Dr Kayode Fayemi and no deduction was made from the allocation, the state would have received N1, 860,919,359.32 for the month of May, 2016”, he said and challenged any one with contrary information to supply it.
