Dr Kayode Fayemi, the newly sworn-in governor of Ekiti State, has said the state is indebted to the tune of N170 billion which he said were loans taken by former Governor Ayodele Fayose administration to undertake some projects.
While he assured that “this challenge would not impede his government from delivering dividends of democracy to the citizens,” he also promised to restore the N5,000 monthly stipend for the poor elderly people of the state to ensure a social safety net for the poor and vulnerable in the society.
Fayemi made the disclosure on Tuesday, after an elaborate swearing-in ceremony held at Ekiti Parapo Pavillion in Ado Ekiti, where President Muhammadu Buhari also told Nigerians that he was prepared more than ever before to guarantee performance and good governance.
Governor Fayemi said in his speech on the occasion after the oath of allegiance and oath of office were administered to him by the Chief Judge of the state, Justice Ayodeji Daramola, that he would hinge his administration on four pillars.
The four pillars, Fayemi said were infrastructure and industrial development; agriculture and rural development, social investments and knowledge economy.
Among other things, he would restore the N5,000 monthly stipend for the poor elderly people of the state to ensure a social safety net for the poor and vulnerable in the society.