Speaking at the 22nd Convocation of the College of Education, Ikere Ekiti, Fayose warned that unless drastic action is taken, the economy might collapse in the next three months.
Fayose, who is the Visitor to the College, lamented the deplorable state of the nation’s economy, noting that rather than address it, the All Progressives Congress- led Federal Government has been employing propaganda to deal with the issue.
He said: “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.”
Governor Fayose, however decried that Ekiti people don’t pay tax, wondering how government could work for the people with depleting allocation from the centre.