Oyebanji Unveils Economic Relief Program Worth ₦12 Billion
The Governor of Ekiti State, Mr. Biodun Abayomi Oyebanji, has authorized a number of thoughtfully crafted relief initiatives aimed at lessening the suffering that the state’s citizens are going through as a result of the present global economic crisis.
One month’s worth of wage arrears, totalling approximately N2.7 billion, would be paid to State and Local Government employees as part of these programs. With this payment, the government has paid off the wage arrears owing to employees of the State Government and will make sure the arrears owed to employees of the Local Government are paid off this year.
Additionally, the Governor authorized a monthly increase in funding for autonomous institutions, including the judiciary and all tertiary institutions, of N600 million. This would enable the establishments to carry out the pay award that is being implemented for employees of State and Local Governments.
In a similar spirit, Governor Oyebanji also approved the payment of N1.5 billion in arrears for two months’ worth of pensions owed to State and Local Government employees, as well as an increase from N50 million to N100 million in monthly gratuities for local government pensioners and N100 million in gratuities for state pensioners. This increases the total gratuity payout to N200 million every month.
Additionally, the State Government has invested N1 billion to increase food production, particularly to start land preparation through the tractorization subsidy program of the Ministry of Agriculture and Food Security and an input supply program to help small-scale farmers. In a similar vein, the government is dedicating a staggering N1.2 billion that it recently received as the first tranche of the Livestock Productivity and Resilience Support (L-PRES) Project, which is funded by the World Bank, to transforming the livestock subsector.
The funds would be used to support young engagement in livestock enterprises and the private sector, as well as to empower livestock producers and increase animal productivity. This would involve renovating the state veterinary hospital, the local government areas’ veterinary clinics, and the chicken industry from production to processing; it will also entail developing feed formulation and providing assistance and training for Artificial Insemination (AI).
In order to assist medium-sized and small enterprises, the State is also starting a N500 million loan program in collaboration with Access Bank. This is on top of the N1 billion cooperative fund, which offers members and cooperatives low-interest working money. Through these initiatives, the relief program will also support small enterprises, which are an essential component of the State economy and will help stimulate growth.
The last set of programs includes the continuation of the conditional cash transfer to low-income households and the N3.5 billion CARES program, which supports agricultural produce and focuses on labour-intensive support, livelihood support, small business technology support, and other areas.
It also includes the distribution of food to the 177 wards of the State, which is being managed by the Local Government Councils and Community Development Associations; and the free bus service for workers and students within Ado-Ekiti and Ikere-Ekiti, which will now be extended to Ekiti State University (EKSU) and other major towns.
These are on top of the ongoing infrastructure projects that are being carried out throughout the State to improve power supply to critical areas, such as connecting the EKSU campus to the IPP. These projects will also help reduce the cost of logistics, which is a major factor in commodity prices, and provide free malaria treatment for children and the elderly, as well as free delivery services for expectant mothers at all primary healthcare centres throughout the State.
Governor Oyebanji reassured the state’s populace of his administration’s dedication to promoting the welfare and well-being of the people, and he urged them to work with local, state, and Federal governments as coordinated efforts are being made to grow the economy in line with President Bola Ahmed Tinubu’s renewed hope agenda and the administration’s shared prosperity agenda.
Olayinka Oyebode
Governor’s Special Advisor on Media
26-02-2024.
Credit: Allschoolabs, Nairaland
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