Ekiti 2014: Adeyeye accuses Fayemi of taking N5bn To Fund Re-election

By Prince Adedayo Adeyeye

Afenifere Chieftain and Peoples Democratic Party (PDP) governorship aspirant in Ekiti State has accused the State Governor, Kayode Fayemi of putting the present and future generations of Ekiti people under the yoke of unnecessary debt, alleging that; “the N5 billion bond just taken by the State Government is not meant for any developmental project, but to be used to fund the governor's re-election bid.”

In a release issued today, by the Director General of Prince Adedayo Adeyeye Movement (PAAM), Hon. Bisi Kolawole, the governorship aspirant said it was fraudulent for Fayemi to have claimed that construction of Ilawe-Igbaraodo Ibuji road, would take N894.69 million, while the sum of N1.14 billion will be used for Ikole-Ijesa Isu-Ilumoba road, when he claimed in 2012 that the two roads had been completed.

The Ekiti State Government had on December 31, 2013 completed its N25 billion bond issuance programme with second tranche offer for subscription of N5 billion at 14.50 per cent fixed rate. From the N5 billion bond, N1.58 billion is earmarked for the construction of Ekiti-Kete Pavillion in Ado-Ekiti, rehabilitation of Ire Burnt Bricks Ltd in Ire-Ekiti will gulp N966.89 million, while River Ero bridge construction will take N220.36 million. Also, construction of Ilawe-Igbaraodo Ibuji road will take N894.69 million, while the sum of N1.14 billion will be used for Ikole-Ijesa Isu-Ilumoba road.

Reacting, Adeyeye said it was unfortunate that Fayemi would be mortgaging the future of Ekiti and its people just to fund his second term ambition.

He said; “On October 21, 2012, it was published on the Ekiti State Government Website that; '12 years after, Ire Burnt Brick Factory Resurrects.' Fayemi was at Ire-Ekiti to commission the 'resuscitated' factory on Wednesday, October 17, 2012 and picture of the commissioning was published on the State website. It was said then that the resuscitation of Ire Burnt Brick was in partnership between the State Government and Oodua Investment Group.

“How then can Fayemi be telling us in 2014 that N966.89 million is to be spent to resuscitate Ire Burnt Bricks Ltd if not that the fund is meant for some other sinister motives? Or is there any other Ire Burnt Bricks Ltd other than the one that Fayemi commissioned on October 17, 2012?

“Also, Ilawe-Igbaraodo-Ibuji and Ikole-Ijesa Isu-Ilumoba roads are among the roads that were advertised as having been completed by the Fayemi-led government in 2012. Particularly, Ilawe-Igbaraodo-Ibuji road was awarded by the immediate past PDP government at a little above N200 million and the rehabilitation was ongoing before Fayemi became governor, only for him (Fayemi) to terminate the contract and re-awarded it for over N900 million in 2011.

“Ekiti people will need to ask Fayemi why he wants to spend N1.9 billion from the N5 billion bond on roads that he said were completed in 2012.”

While describing the government as wasteful, Adeyeye said; “How on earth can a sane government be telling the people that N1.58 billion borrowed fund is to be spent on construction of Ekiti-Kete Pavilion?

“Of what economic benefit is a pavilion, new government house, civic centre and new governor's office that the N25 billion bond already taken by the Fayemi-led government to the people of Ekiti State?”