4
Inherited problems
1
Fixed
1
Partial progress
Fixed
Partial progress
Broken
The problem
Ekiti's debt stock stood at ₦115.69 billion in 2020 under the outgoing Fayemi administration, part of a long-running debt trajectory (Fayemi himself said predecessor Ayodele Fayose left ₦155.79bn in debt at the 2018 handover).
What was done
Rather than being brought down, the debt grew a further 97% to ₦228.49 billion by 2024 under Oyebanji, even as the state's own IGR fell short of covering debt-servicing costs in 2022.
Fixed
The problem
As with many Nigerian gubernatorial transitions, the state's exact financial position required verification at the point of handover from the Fayemi administration in October 2022.
What was done
Oyebanji froze the state's accounts immediately upon assuming office in October 2022 as a standard accountability measure before resuming normal government financial operations.
Partial
The problem
In 2022, Ekiti's entire internally generated revenue of ₦13.031 billion could not cover the state's ₦16.282 billion in debt-servicing charges that year, meaning locally-raised funds alone were insufficient even to service existing loans.
What was done
IGR nearly doubled to ₦29.82bn in 2023 and continued rising to ₦34.7bn in 2024, substantially narrowing (though not eliminating) the structural gap between local revenue and debt-service obligations.
In progress
The problem
A libel suit brought by former Governor Kayode Fayemi produced a key witness whose November 2025 testimony alleged that Fayemi held secret meetings with contractors to demand bribes during his tenure.
What was done
No independently verified investigation or resolution of the underlying bribery allegation against the former administration was identified for this entry; the matter emerged through unrelated defamation litigation rather than a criminal probe.