The call for the need to diversify the nation's economy from a mono-economy may have gotten the attention of the Presidency, as the Vice President, YemiOsibanjo has revealed that key economic measures must be taken by both the federal and state governments in order to pull Nigeria out of poverty. He made the appeal while speaking at an event in Asaba, Delta State.
Prof. Osibanjo had bemoaned the Country's mono-economy while speaking at the 18th Joint Planning Board and National Council on Development planning meeting. He stressed that the country must diversify its economy and changes its over-reliance on oil.The vice president said the reliance on oil is not only unsustainable but also incapable of creating jobs and building enduring infrastructure that would support rapid economic growth for the country.
Osinbajo stressed the need for the federal, state and local governments to collaborate in the fight against poverty in the country. According to him, a synergy among the three-tier of government was imperative so that citizens will be productively engaged and lifted out of poverty.
He urged states in the country to improve tax administration and widen the tax nets to make it easier for people to pay taxes and spur development.
On his part, the Delta State Governor, IfeanyiOkowa, said it was imperative for state chief executives to imbibe the culture of fiscal discipline, pointing out that without such, there would be no fiscal sustainability.
