Ekiti Got N8.5bn Allocation In June, Says APC

The All Progressives Congress in Ekiti State on Thursday said Governor Ayodele Fayose received N8.5bn from the Federal Government in June. It, therefore, urged the governor to hit the ground running and honour the promises he made to the people of the state. In a swift reaction, however, Fayose described the APC’s claim as a tissue of lies which has become the trademark of the opposition party. The Publicity Secretary of the APC, Mr. Taiwo Olatubosun, said the details of the state’s allocation were on the government’s official website.

Giving the breakdown of the allocation in a statement, the APC said Fayose had received a N2.1bn bailout fund, N2.6bn statutory allocation and a Value Added Tax allocation cash of N598.8m. The APC added that in the same month, Fayose received N3.1bn as local government allocation, totalling N8bn. He explained that after all deductions, the state was still left with N7. 9bn. The statement read, “It is glaring that Fayose has no plan for the development of the state, neither does he have the interest of the workers and pensioners at heart. Despite the huge sums that accrued to the state in the last 10 months, and in spite of a six-month moratorium on debt payment, which saved the state N3bn, Fayose has continued to complain of paucity of funds.” The Ekiti State Government debunked the claims, saying the state got only N4.1bn in June. Reacting to the APC statement, the Chief Press Secretary to Fayose, Idowu Adelusi, said lying hasd become the first name of the APC, urging Ekiti people to ignore them as they had always done. Adelusi maintained that the state got N4.1bn while the 16 local government councils got N2.7bn. He said, “In June, Ekiti State got a net allocation of N1,958,432,714.17 and in July, the state got a sum of N2,687,536,884.88.The breakdown of the June allocation is as follows: Gross Allocation (N1,815,552,424.75), Value Added Tax (N536,678,738.75) and Exchange Rate Gains (N171,236,640.31). “The following deductions were made from the allocation: Foreign loan (N42,260,280.19), Contractual Obligations-ISPO (N397,196,808.00), Commercial Agriculture Credit Scheme (N23,120,001.44) and Bond Issuance Programme 2 (N102,458,000.01), totalling N565,035,089.64. “If N565,035,089.64 is deducted from the gross allocation of N1,815,552,424.75, it will remain a sum of N1,250,517,335.11 and this added to the VAT and Exchange Rate Gains will make N1,958,432,714.17. “In June also, Ekiti State got N2,173,624,315.39 from the Nigeria Liquefied Natural Gas proceed while the 16 local government councils got N1,259,124,010.15, totalling N3,432,748,325.54. “Addition of the state’s June allocation of N1,958,432,714.17 and the NLNG proceeds of N2,173,624,315.39 will be N4,132,057,030.”