Osinbajo says FG assisted states with N1.91 trn

http://www.gatewaymail.org/wp-content/uploads/2018/03/Osinbajo-1st-right-with-Governor-Amosun-and-his-wife-and-others-at-the-summit..jpg
*Osinbajo (1st right) with Governor Amosun and his wife, and others at the summit.

By Olusola AJIBIKE (Abeokuta)

NIGERIA: A WHOPPING N1.91 trillion has been expended by the Federal Government to support the state governments to cover three areas –Anchor Borrowers programme, social investment and budget support, the Vice President, Prof Yemi Osinbajo has said.

Osinbajo made this known at the fourth edition of a two-day Ogun State Investors’ Forum with the theme “Consolidating the gains, accelerating growth” held at June 12 Cultural Centre, Abeokuta.

He reiterated the Federal Government’s commitment to addressing the nation’s infrastructural deficit and its determination to fight graft.

The Vice president, however, expressed worry over failure of the Lagos and Ogun State governments to collaborate with each other to achieve regional economic integration.

Osinbajo noted that the two states needed to take advantage of their proximity to each other and explore their areas of economic competitive advantage for mutual benefits.

The vice-President also noted that on account of proximity, Lagos and Ogun states, and by extension Republic of Benin, ought to collaborate with one another for the benefit of economic integration.

Osinbajo, therefore, called on the two neighbouring governments to work together for economic growth and prosperity of both states.

He also said that he recently attended a meeting on economic cooperation between Kano and Lagos, and therefore advocated for more of such collaboration among states.

“There is a proximity between and among Lagos and Ogun states, as well as Republic of Benin.  Apart from the industrial hub of the country, Ogun State ought to be a business preference of choice for anybody wishing to do business in Nigeria,” he said.

“Recently, I attended a collaborative economic meeting between Lagos and Kano states.  As a result, I think there is a need for a deliberate conjunction between Lagos and Ogun states for future benefits,” he further said.

The Vice-President also said: “The available endowed potentials between the two states ought to be exploited for sub-regional meetings and cooperation between and among Lagos, Ogun and Republic of Benin.

“There is no reason Ogun and Lagos states should not work together for economic growth.  There must be sub-region meeting between Lagos and Ogun states and Republic of Benin.

“I am here to encourage you here in Ogun State.  There is no room to relent.  I am here to inspire your ambition.  I want your fifth index place of doing business to become first.

“So, in the last 18 months, Ogun State has made a giant leap in agriculture.  You have MITROS rice, land acquisition, business infrastructure, road building and upgrade for the industrialisation of the state.”

The keynote speaker at the event, a former President of Mexico, Felipe Calderon, who spoke on “Competitiveness and growth: A view from Mexico” noted that for any country to experience economic growth and development it must invest in people and infrastructure.

He advised the Nigerian leadership to go back to the drawing board to stimulate manufacturing and exporting of products instead of relying on importation of everything.

Calderon also urged government to increase public funding and expand its scope of social investment programmes to get to the poorest and vulnerable people in the society.

  • To contactGatewayMail newspaper, Toronto, Canada email us at: info@gatewaymail.org, whatsapp or text message: +2348033186252 (no calls).

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