How President Buhari has consistently helped Fayose

It is no news that Governor Ayodele Fayose regularly attacks President Buhari and his administration.

What may sound as news is the fact that Ekiti State is actually suffering from a cash crunch.

We will prove our position in a moment.

First off, President Buhari has approved an N8.8b share of the Paris loan refund to Ekiti state.

Contrary to Fayose’s claims, the FG has indeed been supporting Ekiti in meeting its financial obligations, including salary payments.

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Aside from the N8.8 billion, Ekiti has also received the budget support facility given by FG to some states of the federation.

Ekiti State has constantly but quietly received this cash without announcing it to anyone.

Let’s drill down to the nitty-gritty. Shall we?

Ekiti spends about N2.6 billion on salaries, subvention, pension, and gratuity monthly.

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A report by the National Bureau of Statistics shows that Ekiti is one of the states with the lowest internally generated revenue.

To put this in perspective, the National Bureau of Statistics says Ekiti internally generates a paltry 275 million monthly or N3.3 billion yearly.

Also, Ekiti receives an average of about N1.6 billion monthly from the Federation accounts.

Doing a little arithmetics shows that Ekiti State gets an average of N1.875 billion naira every month.

Recall that the state spends about N2.6 billion as monthly salaries.

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The only explanation to making up the shortfall in revenue is President Buhari’s led FG.

According to the Ministry of Finance, the Paris Club Loan is merely a fraction of the kind of support the state gets from FG.

Ekiti state got N1.3 billion in the first three months then N1.1 billion in subsequent months since it began in June, 2016.

 

Why are we saying this? When you tell a story, tell it all.

When Ekiti Government lambasts the government, she should tell it all.