Ekiti State Governor Kayode Fayemi has expressed concern over the state’s debt profile under the immediate past Ayodele Fayose administration.
The governor said his predecessor left an humongous debt profile of N155,791,785,214 as at October 16, before he assumed office.
Fayemi made the allegations in his “State of the State” address marking his administration’s first 100 days in office on the floor of the House of Assembly in Ado-Ekiti, the state capital.
He said the debt profile figures, which encompass the accounts of the state from October 2014 to last October, were arrived at after engaging the services of an external auditing firm, the Price WaterHouse Cooper, to thoroughly audit the state’s books.
The breakdown of the debt profile, the governor said, included loan, N57,694 billion; salary arrears, N16,777 billion; outstanding leave bonus, N4,402 billion; outstanding (National Youth Service Corps) Corpers’ allowance, N28,883 million; outstanding subvention, N4,770 billion; pension and gratuity arrears, N39,775 billion and outstanding contractors claims, N28,575 billion.
Others include outstanding furniture allowance, N470,266 million; outstanding severance allowance, N586,144 million; monetised vehicle arrears, N101,243 million; outstanding warrants, N386,777 billion; outstanding (Federal Inland Revenue Service) FIRS obligation, N184,215 million; traditional rulers’ arrears, N150,214 million; judgment debts, N95,048 million and other outstanding liabilities, N1,792 billion.