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Devote N5.5bn June Allocation to Pay Salaries, Fayemi Tells Fayose

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  • Devote N5.5bn June Allocation to Pay Salaries, Fayemi Tells Fayose

The Ekiti State governor-elect, Dr Kayode Fayemi, has asked the outgoing Governor, Mr. Ayodele Fayose, to devote the June 2018 federal allocation of N5.52 billion to the payment of salaries and other entitlements of workers.

A statement by Fayemi’s Media Director, Wole Olujobi, said that henceforth, Fayose must make accountability and human face critical factors in the policies of his administration.

He said the usual practice by the governor to collect federal allocations and call stakeholders meetings to deceive Ekiti people on the sharing formula between the state and local governments is no longer acceptable.

Urging Fayose to make accountability and transparency a cardinal policy of his administration in the run-up to the October 16, 2018 handover date, the statement said: “Information available to us suggests that Fayose at the weekend called all the directors in the state service to a meeting in the new Governor’s Lodge, pleading with them not to release sensitive information to the opposition, including non-disclosure of the state’s finances.

“But we want to say that the state has received N5.52b fresh June federal allocation and we demand that the money be spent to pay salary, and should not be subjected to the circus of lies and deceits that often accompanied the sharing of the allocations in the past whereby local governments were given their shares in the morning and in the night they would be coerced to return the money to the governor’s office while local governments workers remained unpaid for nine months.

“Fresh reports on the status of the state’s internally generated revenue (IGR) have indicated that between October 16, 2014 to date, the state has a revenue profile of N34,560,000,000 kept in secret accounts in one old generation bank account and another new generation account, yet there is nothing to suggest that the money was spent for the benefit of Ekiti people.

“At the State Water Corporation where opaque financial management has left the system in ruins, Ondo State had paid its counterpart fund of 40m for the upgrading of Egbe Dam, but Ekiti State Government has refused to honour its obligation to the project, even as the money paid by Ondo State cannot be traced to any government’s account.

“At Ero Dam, despite releasing N1b on paper out of N1.4b budgeted for the dam’s expansion, there is no sign of work going on there as we speak while in the same Water Corporation, two multi-million naira serviceable trucks were taken to Afao-Ekiti country home of the governor several months ago under pretext that they were being taken
there for repairs and up till now, the trucks are still not in the service of the Water Corporation.”

Meanwhile, workers have issued a 14-day ultimatum to Governor Fayose to pay all arrears of salaries and pensions of
retirees.

The workers acting under the aegis of Ekiti State Organised Labour, said the Fayose government must clear all arrears of workers’ entitlements before a new government takes office on October 16.

Their demands also include payment of over seven months deduction, payment of nine month arrears to local government workers and primary school teachers.

They also advocated the payment of 11 months and six months pensions to local government pensioners and state government pensioners respectively.

Also, the Conference of Nigeria Political Parties (CNPP), Ekiti State chapter, has warned civil servants in the state not to be part of alleged altering of official documents in a desperate attempt by Fayose to cover up some of the shoddy deals embarked upon by his administration.

The caution was contained in a release signed by the state Publicity Secretary of CNPP in Ekiti State, Olu Akomolafe, and made available to newsmen in Ado Ekiti on Sunday.

“It is now in public domain, the on-going alteration of government official documents by the government of Fayose after his party lost the July 14, 2018 governorship election in Ekiti State. All the desperate moves being evolved by the outgoing governor and his few cohorts are not hidden at all.

“Official documents from various ministries, agencies and parastatals are being inter-changed to make governance become cumbersome, equivocal and inexplicable to the incoming administration, hence hoarding or non-availability of necessary official documents needed to know how government activities were carried out in the four years of the present government in the state,” Akomolafe said.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Lagos Eyes Investment Surge as Sanwo-Olu Unveils Growth Strategy

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sanwo-olu

Governor Babajide Sanwo-Olu of Lagos State is spearheading a bold push to attract significant investment inflow to boost the state’s economic growth.

During a Pre-Summit Investor Roundtable at the Africa Social Impact Summit (ASIS 3.0), held at Eko Hotels and Suites, the governor outlined strategic opportunities for investors.

With the theme “Invest Lagos – Investment Opportunities,” the summit was organized by the Sterling One Foundation in collaboration with the Ministry of Commerce, Cooperatives, Trade, and Investment.

Attended by business leaders, chambers of commerce, and industry captains, the event underscored Lagos’ potential as a hub for economic activity.

Sanwo-Olu highlighted Lagos’ positive economic outlook, citing an expanding population and sustainable infrastructure as key growth drivers.

Despite challenging business environments, the state’s economy has shown resilience, welcoming new investments while sustaining existing ones.

The governor emphasized reforms aimed at improving the ease of doing business. He mentioned that digitizing services had reduced bureaucratic hurdles, fostering a stable business climate.

Sanwo-Olu assured potential investors of the state’s commitment to creating a supportive environment that ensures returns and security for investments.

“In the last five years, Lagos’ GDP has grown by 50 percent,” Sanwo-Olu stated. “We aim to sustain this growth and ensure the gains of the past years are not reversed.”

Sanwo-Olu identified sectors ripe for investment, including transportation, tourism, health insurance, and waterways. He expressed the government’s dedication to advancing development plans in these areas.

Commissioner for Commerce, Cooperatives, Trade, and Investment, Mrs. Folashade Ambrose-Medebem, highlighted Lagos’ economic strides, noting that the state’s GDP had increased from N27 trillion to N41 trillion in five years.

She detailed strategic investments, particularly the allocation of N550.7 billion for infrastructure in 2024, and the commitment of N44.33 billion to food security initiatives.

Sterling Bank’s Managing Director, Mr. Abubakar Suleiman, pointed out that economic growth in Africa is often hindered by an unstable investment climate.

The summit aimed to build investor confidence by fostering trust and transparency in business environments.

“Lagos remains a leading destination for investors,” Suleiman noted. “The state provides clarity and access to markets, maintaining consistency in its investment strategies.”

Sanwo-Olu’s administration continues to focus on diversifying Lagos’ economy through strategic investments in various sectors.

The state’s proactive approach has positioned it as a global city and an emerging African financial center.

The governor’s initiative is expected to further solidify Lagos’ reputation as a prime investment destination, paving the way for sustained economic growth and development.

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Vice-President Harris Gathers Momentum as Democratic Nominee

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Kamala Harris

Vice-President Kamala Harris has secured the support needed to become the Democratic nominee for president.

This was after President Joe Biden announced he would not seek re-election, endorsing Harris as his successor.

According to CBS News, Harris has received endorsements from over 1,976 delegates, surpassing the threshold needed to clinch the nomination in the first round of voting at the Democratic National Convention (DNC) scheduled for August.

Delegations from at least 27 states have expressed full support, showcasing a strong backing across the nation.

In her address to campaign staff in Wilmington, Delaware, Harris expressed gratitude for the widespread support, adding that she committed to uniting the party and the country.

“We have 106 days until Election Day, and in that time, we have some hard work to do,” she stated.

Harris laid out her vision for America, contrasting it with that of her likely opponent, Donald Trump.

Speaking on the direction of the campaign thus far, she said “Our campaign has always been about two different versions of what we see as the future of our country. One focuses on the future, the other focuses on the past.”

She acknowledged the accomplishments of the Biden administration, highlighting her pride in serving as vice-president.

“My time serving as vice-president was one of the greatest honors of my life,” Harris said, underscoring her dedication to continuing the work they started.

In a phone call to his campaign team, Biden praised Harris, urging his supporters to rally behind her. “I’m hoping you’ll give every bit of your heart and soul that you gave to me to Kamala,” he said.

Despite stepping back from the race, Biden vowed to remain actively involved in supporting Harris and emphasized the importance of defeating Trump, calling him “a danger to this nation.”

Harris’s nomination marks a significant milestone, but challenges remain. The campaign will focus on addressing key issues such as healthcare, climate change, and economic inequality.

With millions of dollars pouring into her campaign since Biden’s announcement, Harris aims to capitalize on the momentum and build a coalition that appeals to a broad spectrum of voters.

As the DNC approaches, Harris is expected to formally accept the nomination, solidifying her position as the Democratic leader.

The coming months will be crucial as she works to unite the party and reach out to undecided voters. With her historic nomination, Harris stands poised to make a lasting impact on the future of American politics.

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President Declines Nomination, Endorses Harris for 2024

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In a significant political announcement on his X.com account, President Joe Biden has decided to forgo the opportunity to seek re-election in 2024, instead throwing his full support behind Vice President Kamala Harris.

The surprise move, shared with the public this morning, represents a pivotal moment in the Democratic Party’s journey toward the upcoming presidential election.

In his statement, Biden said that his choice to step aside is driven by a desire to concentrate on his remaining duties as President.

He expressed gratitude for the opportunity to serve alongside Harris, calling her selection as his Vice President in 2020 “the best decision” he has made. “My fellow Democrats,” Biden began, “I have decided not to accept the nomination and to focus all my energies on my duties as President for the remainder of my term.”

The President’s announcement signifies a strategic shift in the 2024 election landscape. By endorsing Kamala Harris, Biden not only aims to consolidate support within the party but also to set the stage for a unified front against former President Donald Trump.

“Today I want to offer my full support and endorsement for Kamala to be the nominee of our party this year,” Biden declared. “Democrats — it’s time to come together and beat Trump. Let’s do this.”

This endorsement comes as a surprise to many, given Biden’s earlier commitment to seeking re-election.

However, it reflects a broader strategic maneuver to ensure party unity and strengthen the Democratic position in the face of a formidable opponent. By focusing on Harris, Biden aims to leverage her growing popularity and political acumen to fortify the party’s chances in the upcoming election.

Kamala Harris, who has served as Vice President since January 2021, will now be thrust into the spotlight as the presumptive Democratic nominee.

Her campaign is expected to build on the legacy of the current administration while addressing key issues facing the nation.

The move also raises the stakes for the Republicans, who will need to prepare for a robust campaign from a seasoned political leader in Harris.

As the 2024 election cycle ramps up, Biden’s endorsement is likely to reshape the dynamics of the race, influencing both Democratic strategies and Republican responses.

The coming months will be critical as Harris and her team work to solidify their platform and rally support from voters across the nation.

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