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At his 16 October 2014 inauguration, Fayose said Ekiti had been "plunged into a heavy debt dungeon of over ₦57.45 billion" by the outgoing Fayemi administration, accusing it of wasteful spending and emptying the treasury.

The exact figure remained politically contested for years — Fayemi's camp disputed Fayose's numbers just as Fayose later disputed the ₦117bn debt figure Fayemi's side attributed to him at the 2018 handover — and no resolving, independent reconciliation of the 2014 opening debt figure was found.