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Ekiti Allegedly Incurs More Debt Under Fayose

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BREAKING: Fayose Slams Atiku On National TV, Says PDP Prepared To Fail In 2023 Election

A document forwarded to the debt management office by the outgoing Ekiti state government has revealed that the state’s debt profile has increased from N117 billion to N120 billion.

The state incurred additional debt of N3 billion between March and June this year.

The governor-elect of the state, Kayode Fayemi had in September, raised an alarm over N99 billion debt incurred by the administration of Ayodele Fayose.

According to the DMO, records show that the debt profile increased from N18billion during Fayemi’s era to N117 billion, under Fayose’s watch

However, Fayose had denied, stating that the debt of the state was N59.5 billion which Fayemi’s government incurred.

Today, however, a document forwarded to the DMO Office which was seen by newsmen, showed that the state’s debt profile rose from N117 billion to N120 billion within three months.

The components of the debt, according to the document, shows commercial bank loans N2 billion, federal government N18.2 billion, and state bon N3.5 billion, as well as budget support facility of N16.9 billion.

The debt also includede a salary bail out of N9 billion, excess crude account N9.5 billion, commercial agriculture loan N163.4 million, contractors arrears N2 billion pension and gratuity arrears of N22.2 billion.

Others are salary arrears of N8.3 billion and judgement debt of N95 million.

Fayose secured the approval of N10 billion supplementary budget from the state house of assembly, a month to his handover billed on October 16.

He has been invited by the Economic and Financial Crimes Commission (EFCC) to its head office in Abuja.