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. STATE
OF THE
STATE
ACCOUNTABILITY REPORT
FOR QUARTER 1, 2021

4. 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

5. 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

6. 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.

7. 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

8. STATE OF THE STATE // Accountability Report for Quarter 1, 2021

9. 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

10. STATE OF THE STATE // Accountability Report for Quarter 1, 2021

11. 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

13. 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

14. STATE OF THE STATE // Accountability Report for Quarter 1, 2021

15. 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.

16. 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

17. 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)

18. 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.

19. STATE OF THE STATE // Accountability Report for Quarter 1, 2021
19
How
have
We
Managed
to
Survive
So
Far?

20. 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.

21. STATE OF THE STATE // Accountability Report for Quarter 1, 2021
21
COMPARATIVE ANALYSIS OF
EKITI AND EBONYI
EKITI EBONYI

22. 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

23. STATE OF THE STATE // Accountability Report for Quarter 1, 2021
23
Other
S/West
States
also
fare
better
than
Ekiti
*Includes
mineral
derivation

24. 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.

25. STATE OF THE STATE // Accountability Report for Quarter 1, 2021
25

26. 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.

27. CONCLUSION
CONCLUSION
CONCLUSION
CONCLUSION
CONCLUSION
CONCLUSION
CONCLUSION
5
Together, We Will Win!

28. STATE OF THE STATE // Accountability Report for Quarter 1, 2021
28
Imperatives
for
Sustainable
Fiscal
Health
and
Long
Term
Growth

29. 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

32. www.ekitistate.gov.ng
INFRASTRUCTURE AND
INDUSTRIAL DEVELOPMENT
SOCIAL INVESTMENTS
KNOWLEDGE ECONOMY
AGRICULTURE AND
RURAL DEVELOPMENT
GOVERNANCE