ONDO State governor, Mr. Oluwarotimi Akeredolu (SAN), has disclosed, after six months in the saddle, that his administration inherited a debt profit estimated to N220 billion from his predecessor, Dr. Olusegun Mimiko.
Akeredolu disclosed this yesterday in Akure during the swearing ceremony of 10 special advisers and 18 commissioners, whose offices were not announced and without portfolios.
Nevertheless, he implored the political appointees that “No appointment is juicy. Every ministry, agency and established public office is important. This Administration shall extend equal attention to all offices.
He warned that “it would be a mistake, with grave consequences, for anyone to act in a manner which negates decency and decorum. There will be zero tolerance for all acts considered unbecoming of patriotic indigenes of this state.”
Akeredolu, who affirmed that he “will simply not allow them,” said it was important to inform the people of the precarious nature of the state and true financial situation.
“Expectations of performance from the government must be anchored on reality. Government officials must bear this fact in mind, always. It will be easy for the people to show understanding when they know the truth.
“The economic condition of this state is precarious, depressingly so. We expend virtually all allocations and the insignificant revenue generated internally on recurrent expenditure. The internally generated revenue is very low.
“The huge debts owed by the state have been worsened by infrastructural deficit on ground. Yet we strive to discharge our obligations to creditors whose exactions on our very poor revenue militate, significantly, against planning,” he said.
The governor disclosed further that his government met “a staggering debt totaling N220,588,125,731.00, quoting the figures to include: internal and external debts, unpaid salaries and allowances, state pension liabilities, gratuities just to mention few.
Though Mimiko announced he left N20b in the state coffers, Akeredolu declared that the liquid assets he met from all banks balances, fixed deposit, balance in bond, portfolio management account and OSOPADEC totalled N9,956,594,630.36.
“With a total inherited debt of over N220 billion, it should not be difficult for anyone to know that the government’s capacity for seeming elastic adjustment to cater for the people has been stretched to its limit.
“There is no gain asserting the obvious; our Administration is not in any position for frivolities. All of us must gird our loins for the great task ahead. The picture is not good.
“Therefore, all acts with the potential of pushing us deeper into economic crisis must be jettisoned. We earnestly promise to provide the needed leadership,” he said.
The precarious situation, he hinged on the meagre revenue for the state from February to July 2017 which is N47,548,077,005.78 while expenditure is estimated at N46,515,883,736.50.
“The balance of N1,032,193,269,279.99 is the unexpended Paris Club Refund reserved for capital projects from the last release,” he said, urging the state workers and people to support the government by living up with the present realities.
Nonetheless, some sources noted that it was possible for the new commissioners, Mr. Yemi Olowolabi to head the information ministry; Mrs Omowumi Olatunji Edet to be in Women Affairs and Social Development, Dr. Wahab Adegbenro to be Commissioner for Health.
Other ministries like Finance, Education, Youths, Sports and Culture, Environment, Chieftaincy and Local Government Affairs might be clinched by Mr. Wale Akinterinwa, Prof. Bayonle Ademodi, Mr. Donald Ojogo, Mr Funso Esan respectively.
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Akingboye Joseph Oluwaseun
