Ado-Ekiti – Gov. Ayodele Fayose of Ekiti State has urged Nigerians to prepare for hard times in 2016 if prices of crude oil in the international market continued to nose dive.
Fayose said this on Tuesday in Efon Alaaye, headquarters of Efon Local Government Area of the state during a sensitisation tour of the area.
The governor said that if the trend continued, there would be more financial challenges to cope with next year.
He explained that the outgoing 2015 year’s budget performed “poorly’’ because it was predicated on 68 dollars per barrel, while it sold much lower than that.
“This year’s budget did not meet expectations, especially in the area of capital expenditure because of the poor revenue coming in from oil sale in the international market. The oil now sells for less than 40 dollars per barrel.
“Without being an economic expert, one can envisage a tough economic terrain next year.
“You know that I don’t hide things from you, the other day they said they have given out bail-out fund, I said it was not.
“It will amount to sheer deception for a leader to hide the true position of things from the people.
“We are heading for a serious financial challenge next year, as there seems to be little hope for the economy bouncing back.
“Our administration has always put our finances in the open for all to see.
“We are on this tour because we need to let you know what is happening.
“The power of the people is greater than the power of the leaders,’’ he said.
Fayose told workers in the state that a department that would look into their complaints and follow up to their welfare would be set up at the Governor’s Office.
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He promised that the next Christmas would not be bleak for civil servants, saying that effort would be made to ensure that they got their salaries.
The governor solicited for their cooperation and understanding, adding that the state government would, within available resources, give their welfare top priority.
Fayose also assured pensioners that their pensions would be paid as soon as the Federal Government released the balance of the bail-out money with regards to the local government. (NAN)
