NewsPolitics_31bn debt pitches PDP against ACN

_31bn debt pitches PDP against ACN


The Ekiti State chapter of the Peoples Democratic Party(PDP), has raised alarm that the Governor Kayode Fayemi-led administration has plunged the state into unprecedented debt.
The Party affirmed that the state debt profile has hit the sum of N31 billion.
The PDP also accused the Fayemi-led administration of engaging in contracts inflation,which it described as avenue used by government officials to perpetrate what it termed ‘systematic-collective looting’ of the state’s commonwealth.
Addressing journalists in Ado-Ekiti,the Ekiti state capital yesterday,the PDP Publicity Secretary, Pastor Kola Oluwawole, expressed worry that the government was planning to borrow a sum of N13 billion to finance the 2013 Budget, which he said would ground the economy,if realised.
But the Commissioner for Information,Hon. Funminiyi Afuye,who dispelled the allegations,said the government had only taken a sum of N20 billion from the Capital Market,which he said was tied to the road projects in Ekiti being given serious monitoring by the loaner.
He said:” The present Government applied for a bond of N25 billion, but only N20 billion was approved and this is verifiable at the Capital Market. So,PDP is a gang of liars, who should better be ashamed of itself because a sum of 5 trillion Naira had been frittered away under the nose of President Goodluck Jonathan”.
Afuye posited that the PDP should petition the anti-graft agencies: Economic and Financial Crimes Commission(EFCC) and Independent Corrupt Practices and other Related Offences Commission(ICPC),if they have any issue with contracts awarded in Ekiti State.
He disclosed that the Government had craftily injected the loan amount into the 2013 appropriation bill,presented before the Assembly last week.
He explained that a kilometre of road now costs sum of 303 million Naira in Ekiti,the situation he branded as a dangerous trend in the history of the State.
“Governor Kayode Fayemi is giving the impression that only a sum of N20 billion was borrowed from the capital market. But as I am speaking to you,the debt profile of the State is N31 billion”.
The PDP Spokesman added that it was disturbing that Fayemi and his cabinet members had allegedly seen governance as avenues to make money,alluding to the award of road contracts being awarded by the present government to justify his claim.
He said the contracts, which he alleged were awarded to foreign firms,are costlier than roads in the Niger Delta with worse topography and terrain.
“The 900 metres Atikankan-Baptist Church road,the 0.8km Old Garage–Ojumose road and the 4.9 km Ojumose-Police headquarters,which are single carriage way
to be expanded to dual carriage were awarded at N891m,N866m and N1.4billion respectively.
“Other roads in the State capital renovated by Fayemi like the 1.6km Fajuyi-State Hospital, 3.6km Ijigbo-Baptist-Ilawe,which are dual carriage ways and the 23km Ikole-Ijesa-Iluomoba road cost as much as 477.5 million Naira, 788 million Naira and 1.1 billion Naira respectively instead of 50 million per kilometre,” he said.
The Information Commissioner added that,”This Government has nothing to hide,because this is a government of due process and the Rule of Law. Whatever contract we are going to award,Fayemi has made it a point of duty that it must be done in consonance with the Fiscal Responsibility Act”.
Afuye said,”these are people that have held positions in Ekiti. They plunged the State into financial crisis. Ekiti was indebted to the tune of N41 billion before Fayemi came on board while some of the contracts executed were badly done under the PDP-led administrations.”


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