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Economic downturn: Brace up for More challenges 1n 2016 – Fayose By; Oladele Adedayo, Ado-Ekiti


Economic downturn: Brace up for More challenges 1n 2016 – Fayose

By; Oladele Adedayo, Ado-Ekiti
Ekiti State Governor, Mr. Ayo Fayose, has said with the continued downward trend in the price of crude oil in the international market, except by God’s intervention, Nigerians should brace up for more challenges next year.
The governor who spoke in Efon Alaaye during his sensitisation tour of local governments in the state, said this year’s budget performed poorly because it was predicated on $68 per barrel, while it sold much lower than that.
Although, Fayose promised that the coming Christmas period would not be bleak for civil servants in the state, he said no effort would be spared to ensure that they get their salaries.
He solicited the Civil Servants understanding and cooperation, adding that the state government would, within available resources, give their welfare top priority.
In a statement in Ado-Ekiti by the governor’s Chief Press Secretary, Mr. Idowu Adelusi, the governor opined that if the trend continues, there would be more financial challenges to cope with next year.
“This year’s budget did not meet expectations, especially in the area of capital expenditure because of the poor revenue coming in from oil sale in the international market. The oil now sells for less than $40 per barrel.
“Without being an economic expert, one can envisage a tough economic terrain next year. You know that I don’t hide things from you. The other day they said they have given out bail-out fund, I said it was not. It will amount to sheer deception for a leader to hide the true position of things from the people.
“We are heading for a serious financial challenge next year, as there seems to be little hope for the economy bouncing back. Our administration has always put our finances in the open for all to see. We are on this tour because we need to let you know what is happening. The power of the people is greater than the power of the leaders,” he said.
The governor said in response to the observations by workers, a department that would look into their complaints and follow up on their welfare would be set up at the Governor’s Office, Ado-Ekiti.
The governor, who also visited Aramoko in Ekiti West Local Government, ordered the setting up of a panel to look into the complaints by workers of over- deduction in their salaries concerning the payment for the laptops given teachers by the Fayemi administration.
He also assured pensioners that as soon as the Federal Government releases the remainder of the bail-out money with regards to the local government, he would pay them.


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