Ambode asks states to develop economic path for sustenance

Lagos State Governor Akinwunmi Ambode has advised state governments to focus on the areas it has comparative advantage and develop it for self-sustenance. This, he said, could only be achieved by hard work and thinking outside the box.

Ambode gave this advice while delivering a convocation lecture titled, “Recession: Challenges and Recovery Prospects” at the Wellspring University, Benin City, Edo State at the weekend.

The governor scolded states over their dependence on the federation account for running their affairs instead of exploring other means internally to generate funds for self-sustainability.

Represented by Akinyemi Ashade, Lagos State Commissioner for Finance, Ambode maintained that the nation is blessed with abundant human and natural resources, which trickle down to the states. If properly harnessed, they would lessened the burden on the Federal Government and make the components states economically viable.

Ambode also made case for regional co-operation: “Regional collaboration should also be encouraged. A good example is the collaboration between Lagos State and Kebbi State to produce Lake rice which is currently being sold in the market.”

Ambode said that the nation was plunged into recession following the ceaseless vandalisation of oil facilities by agitators and the over reliance on crude oil as a major source of revenue instead of diversifying the economy.

He however, expressed optimism that the nation is gradually moving out of recession, but the government and citizens must not relax but should do everything possible to sustain the progress achieved thus far.

He pointed that if efforts are not intensified to sustain the progress made so far there is possibility for the nation to fall back into economic recession. He emphasised the need to strengthen and sustain the current diversification efforts.