The Federal Government may soon share the over $2 billion remaining in the Excess Crude Oil Account (ECA) to state governments for them to be able to fund capital projects in their states.
Governor Ayodele Fayose of Ekiti state made this known yesterday while featuring on a radio/ television programme tagged “Meet Your Governor” in Ado-Ekiti.
According to Fayose, the step would be taken for the state governments to be able to embark or complete some capital projects.
He added that Ekiti could get about N10 billion from the fund.
“Nothing is no longer going into the Excess Crude Oil Account because oil is selling lower than the envisaged price in the international market. That has badly affected all of us. The 2015 Budget in Ekiti was predicated on oil selling at $65 a barrel, but it sells for over $40 now.
“That has left our budget performing only in the area of Recurrent Expenditure. You know that I call a spade a spade. Ekiti is expecting about N10 billion when the ECA fund is shared. When it comes, I will tell everybody. I don’t hide things.
“The capital projects that we have embarked upon since we came on board are being executed because we are prudent, transparent and open, and also because we are leveraging on goodwill with corporate bodies”, he said.
Given the harsh economic climate in the country, Fayose said there was no way people could dodge paying taxes, rates and levies, adding that government would be crippled without finances.
He also advised butchers to stop protesting the N1000 levy imposed on them on the slaughtering of a cow, warning that anybody caught slaughtering their cow in an unauthorised place would be fined N50, 000.
“It was during my first tenure that we built the abattoir and the place is not maintained. We have to maintain the facility for hygenic purposes, provide where cattle are kept, provide water and yet they are complaining. The additional cost will be spread to others”, he stated.
On the reconstruction of Erekesan Market (Oja Oba) in Ado-Ekiti, Fayose gave the assurance that owners of the former shops would be given top priority in the allocation of shops when the ultra-modern market is built.
“We have done the accreditation of traders through the records with which we paid them compensation. So, there is no need to fear. We are going to build a five-star market with all the facilities expected in such a market.
“It is somebody that God will use to reform the society. What is important is the legacy I want to leave behind. We have paid compensation since June and we paid about N140 million. I am assuring the people of the state that we won’t leave uncompleted projects behind”, Fayose added.