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Biodun Oyebanji introduces N12bn economic relief initiative



On Monday, Ekiti State Governor, Mr Biodun Oyebanji, revealed a N12bn Economic Relief Programme aimed at easing the hardships faced by the state’s residents during the ongoing global economic challenges.

Oyebanji reassured the people of Ekiti of his dedication to their well-being and urged them to collaborate with the government at the local, state, and federal levels.

In a statement by his Special Adviser on Media, Olayinka Oyebode, the governor highlighted, “Efforts are underway not only to mitigate the economic impact but also to boost the economy in alignment with the administration’s shared prosperity vision and President Bola Tinubu’s renewed hope agenda.”

As per Oyebode, the initiatives under the ERP include: “clearing one-month salary arrears for state and local government employees amounting to over N2.7 billion. This payment resolves the salary backlogs owed to state employees and ensures that those owed to local government employees will also be settled this year.”

He confirmed, “The governor has additionally sanctioned a N600m monthly increase in subventions for autonomous institutions, including the Judiciary and all tertiary institutions, to support the wage adjustments for state and local government workers.

“Moreover, he approved the clearance of two months of pension arrears for state and local government retirees totaling N1.5b, along with a N100m monthly gratuity payout for state pensioners and doubling the current N50m gratuity for local government retirees to N100m.”

The governor allocated N1b to enhance food production by supporting activities such as land preparation through the Ministry of Agriculture and Food Security’s tractorization subsidy program and an input supply initiative to aid small-scale farmers.

He also mentioned that the state is allocating N1.2b received as the initial installment of the World Bank’s Livestock Productivity and Resilience Support Project to revamp the livestock sector.