Former Minister of Solid Minerals Development, Kayode Fayemi is officially taking the reins of power in Ekiti State today as Governor.

At his inauguration, he described the economy of the state as being in a critical condition, heading for a state of emergency.

The state, he said, is indebted to a tune of 170 billion naira.

The governor appealed to the federal government for assistance to bail out the state through the Economic Stabilisation Fund.

While committing to address the problems of unpaid salaries of workers, Fayemi called on Ekiti people to join hands in “to resuscitate the ailing economy”.

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He also called on investors and multi-national corporations to return to Ekiti.

The state, he said, would embark on social investment, education, agriculture and rural development.

“We are ready to work with everyone to create a landmark progress. We are committing to world best practices and deploy all skills to honestly work for the progress of the state.

“We will work to integrating the aspiration of the state to the programme of the federal government,” Fayemi said.

He said the state would return to the fold of other states in the west to fast track economic development.

“We will take full ownership of the challenges ahead of us.”

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