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STATE OF THE STATE ACCOUNTABILITY REPORT FOR QUARTER 1, 2021

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STATE OF THE STATE ACCOUNTABILITY REPORT FOR QUARTER 1, 2021

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We are on a mission of recovery and economic restoration together, and I assure you of our firm commitment to the ideals of a safe, secure, and prosperous Ekiti State. The resources may be limited, but our resourcefulness and
creativity are unlimited!

Dr. John Kayode Fayemi, CON
Governor, Ekiti State, Nigeria

We are on a mission of recovery and economic restoration together, and I assure you of our firm commitment to the ideals of a safe, secure, and prosperous Ekiti State. The resources may be limited, but our resourcefulness and
creativity are unlimited!

Dr. John Kayode Fayemi, CON
Governor, Ekiti State, Nigeria

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STATE OF THE STATE ACCOUNTABILITY REPORT FOR QUARTER 1, 2021

  1. 1. STATE OF THE STATE ACCOUNTABILITY REPORT FOR QUARTER 1, 2021
  2. 2. STATE OF THE STATE // Accountability Report for Quarter 1, 2021 04 We are on a mission of recovery and economic restoration together, and I assure you of our firm commitment to the ideals of a safe, secure, and prosperous Ekiti State. The resources may be limited, but our resourcefulness and creativity are unlimited!” “ Dr. John Kayode Fayemi, CON Governor, Ekiti State, Nigeria
  3. 3. STATE OF THE STATE // Accountability Report for Quarter 1, 2021 05 TABLE OF CONTENTS The Journey So Far 06 The Reality of the Times 15 A Comparative Analysis 20 The Options Before Us 24 Conclusion 27
  4. 4. THE JOURNEY THE JOURNEY SO FAR SO FAR THE JOURNEY SO FAR THE JOURNEY THE JOURNEY SO FAR SO FAR THE JOURNEY SO FAR THE JOURNEY SO FAR 1 Highlights of key successes of the second administration of the Fayemi administration so far.
  5. 5. STATE OF THE STATE // Accountability Report for Quarter 1, 2021 07 Aramoko-Ikogosi-Erijiyan: Completed Ilawe-Ibuji-Igbara Odo: Completed Ilupeju-Ire-Igbemo-Ijan: 80% New Ado-Iyin Road: 70% Agbado-Ode-Isinbode-Omuo: 65% Oye-Ikun-Otun: 60% Ongoing development of a 4.75MW Independent Power Plant and 2 60MVA 132/33kV substations An expected investment of over $100m by UNOPS to develop afford housing across Ekiti State Right of Way policy that has led to the laying of 800km of fibre across Ekiti. Completion of Water Sector Reform Project that is now delivering potable water across the State. Completion of two office blocks at the State Secretariat Ongoing construction of the Council of Chiefs Building Infrastructure and Industrial Development
  6. 6. STATE OF THE STATE // Accountability Report for Quarter 1, 2021
  7. 7. STATE OF THE STATE // Accountability Report for Quarter 1, 2021 09 Payment of counterpart funding to unlock N7.8 billion for basic education Enforcement of free education up to secondary level, with almost N1 billion spent on prompt payment of WAEC exam fees Construction of 4 model schools to enhance quality secondary education and renovation of hundreds of primary schools School enrollment increasing across all levels since 2018 – Primary from 106,271 to 136, 815; Secondary from 84,146 to 109,140; and technical from 700 to 2,021 Commencement of Ekiti Knowledge Zone feasibility study with first set of occupants now in place Knowledge Economy
  8. 8. STATE OF THE STATE // Accountability Report for Quarter 1, 2021
  9. 9. STATE OF THE STATE // Accountability Report for Quarter 1, 2021 11 Ikun Dairy Farm revitalized with an investment of over $5 million by Promasidor Significant private agriculture investments in the rice and cassava value chain by Stallion, JMK Foods, Promise Point and FMS Farms Over 5,000 hectares of land cleared across designated agriculture processing zones Irrigation infrastructure supported by the renovation of Ero and Egbe Dams Agriculture and Rural Development
  10. 10. STATE OF THE STATE // Accountability Report for Quarter 1, 2021 13 Prompt and regular payment of salaries and commencement of minimum wage consequential adjustment up to GL 12 – N1.7 billion per month Prompt and regular payment of pensions – N500 million per month Over N2.5 billion paid as gratuity to pensioners Several Social Safety Nets – Food Banks, Owo Arugbo, N-Power, MEDA Loan Programmes - Over N4 billion spent on various programmes Social Investments
  11. 11. STATE OF THE STATE // Accountability Report for Quarter 1, 2021
  12. 12. THE REALITY THE REALITY OF THE TIMES OF THE TIMES THE REALITY OF THE TIMES THE REALITY THE REALITY OF THE TIMES OF THE TIMES THE REALITY OF THE TIMES THE REALITY OF THE TIMES 2 Key features of the macro economic environment impacting the finances of the state.
  13. 13. STATE OF THE STATE // Accountability Report for Quarter 1, 2021 16 SWOT Analysis STRENGTHS Strong Fiscal Discipline. Goodwill & increased confidence in administration. Transparent and open governance. WEAKNESSES Increasingly dwindling revenue. IGR: Ranked 31 / 36 States. Fed. Allocation: Ranked 32 /36. Total Revenue: Ranked 36 / 36. OPPORTUNITIES Weak macro-economic environment – Low Growth: 0.11%; High Inflation: 17%). Low compliance with tax obligations by citizenry. THREATS N60Billion required to complete capital projects. Ability to continue meeting recurrent expenditure obligations. Insecurity
  14. 14. STATE OF THE STATE // Accountability Report for Quarter 1, 2021 17 Leaving a deficit of N1.5 billion in Q1, 2021. (1,525,399,044.33)
  15. 15. STATE OF THE STATE // Accountability Report for Quarter 1, 2021 18 Ekiti State has spent more than its Federal Allocation and VAT Receipts on Salaries and Subventions to Tertiary Institutions.
  16. 16. STATE OF THE STATE // Accountability Report for Quarter 1, 2021 19 How have We Managed to Survive So Far?
  17. 17. A COMPARATIVE A COMPARATIVE ANALYSIS ANALYSIS A COMPARATIVE ANALYSIS A COMPARATIVE A COMPARATIVE ANALYSIS ANALYSIS A COMPARATIVE ANALYSIS A COMPARATIVE ANALYSIS 3 A comparative analysis of Ekiti and the closest comparable sister state – Ebonyi – created about the same time and with similar demographic features.
  18. 18. STATE OF THE STATE // Accountability Report for Quarter 1, 2021 21 COMPARATIVE ANALYSIS OF EKITI AND EBONYI EKITI EBONYI
  19. 19. STATE OF THE STATE // Accountability Report for Quarter 1, 2021 22 Ebonyi, the closest comparable state to Ekiti operates with a much lower cost structure. EKITI EBONYI
  20. 20. STATE OF THE STATE // Accountability Report for Quarter 1, 2021 23 Other S/West States also fare better than Ekiti *Includes mineral derivation
  21. 21. THE OPTIONS THE OPTIONS BEFORE US BEFORE US THE OPTIONS BEFORE US THE OPTIONS THE OPTIONS BEFORE US BEFORE US THE OPTIONS BEFORE US THE OPTIONS BEFORE US 4 A frank consideration of the difficult choices we have to make.
  22. 22. STATE OF THE STATE // Accountability Report for Quarter 1, 2021 25
  23. 23. STATE OF THE STATE // Accountability Report for Quarter 1, 2021 26 We must cut over per month N680 million immediately, if we are to survive this period.
  24. 24. CONCLUSION CONCLUSION CONCLUSION CONCLUSION CONCLUSION CONCLUSION CONCLUSION 5 Together, We Will Win!
  25. 25. STATE OF THE STATE // Accountability Report for Quarter 1, 2021 28 Imperatives for Sustainable Fiscal Health and Long Term Growth
  26. 26. THANK YOU! Questions and Feedback are welcome. Ministry of Finance and Economic Development Email: aoyebode@ekitistate.gov.ng Website: www.ekitistate.gov.ng Twitter: @ekitistategov Facebook: @ekitistategov
  27. 27. www.ekitistate.gov.ng INFRASTRUCTURE AND INDUSTRIAL DEVELOPMENT SOCIAL INVESTMENTS KNOWLEDGE ECONOMY AGRICULTURE AND RURAL DEVELOPMENT GOVERNANCE

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