'In The Next 3 Months Economy May Collapse' – Fayose

Ayodele Fayose, the governor of Ekiti state, has warned President Muhammadu Buhari and the federal government that the economy might collapse in the next three months.

Vanguard reports that the governor made a statement speaking at the 22nd Convocation of the College of Education in Ikere Ekiti on Thursday, October 29.

Fayose lamented the deplorable state of the nation’s economy, called on the government to address the problem and stop propaganda.

According to the governor, the All Progressives Congress-led government has been employing propaganda to deal with the issue.

“This is the time for the federal government to come out and tell Nigerians about the state of the economy rather than employ propaganda.

“I foresee serious trouble ahead because in the next three months, the economy may collapse. Oil now sells in the region of $40 per barrel. Things have never been bad like this. When I returned from the Holy Land yesterday (Wednesday), I was told that Ekiti got N1.4bn whereas my wage bill per month is N2.6bn,” he said.

Speaking further, Fayose condemned the activities of some University lecturerswho harass female students. The governor also accused some lecturers of smoking Indian hemp and victimising male students.

Ifeanyi Ubah, the managing director of Capital Oil & Gas Industries Ltd, also took part in the convocation.

In his speech, Ubah promised to join hands with the Ekiti state governor to develop the institution.

“If Ekiti does not have Fayose, I won’t be here. I will join hands with him to build some hostels and faculties so that by the time we come here next year, we would have something to show since I am now part of this institution,” he said.

Meanwhile, Vice President Yemi Osinbajo has recently revealed that Buhari will not name any minister for the economy sphere.

Osinbajo stated that Buhari’s administration would be interested in exploring deeper relationship on economic practice as it is a key area in diversifying Nigeria’s economy.