by Tony Adams. via: Edo Political Forum (EPF)
Governor
Adams Oshiomhole of Edo State has called on government at all levels in
the country to devote more funds to capital projects to fast-track the
development of infrastructure in the country.
The governor who
said Nigerians cannot continue to lament the failures of the past said
rather, proactive measures should be taken to correct the mistakes of
the past.
Speaking at a lecture to celebrate the 78th birthday
of former Head of State, General Yakubu Gowon, at the National Institute
for Policy and Strategic Studies in Kuru, near Jos, Plateau State at
the weekend, Oshiomhole called on the Governor of the Central Bank to
help bring down the lending rate.
“We cannot catch up with advanced nations when we spend eighty per cent
on recurrent expenditure and twenty per cent on capital expenditure. If
we spend eighty per cent on recurrent expenditures and twenty per cent
on capital, we will never catch up with Malaysia. Can we stop lamenting
yesterday and start with this year’s budget? I am not bothered on how we
lost yesterday, I am bothered about the fact that we are unable to
learn from the lesson and secure our tomorrow. We have no right to spend
more than what we have or 80 per cent of every kobo we have on
recurrent expenditure. When I went to Edo State, I found out that my
predecessor was spending about 80 per cent on recurrent expenditure and I
said no, you have to reverse it in favour of capital; 60 per cent
capital, 40 per cent recurrent,” he said.
The governor said
there is also an urgent need to review the revenue allocation, saying
“today, Abuja (FG) takes 52 per cent of the total revenue”.
While commending Gen. Gowon for what he described as his courage and
exemplary leadership to rule the nation during the civil war, Comrade
Oshiomhole said in that era Nigeria believed in planning.
“In
the days of Gen. Gowon nothing happened by accident, but due to
meticulous planning. They knew that if they created the railway, it will
take a number of passengers and take care of a number of jobs, so
nothing happens in the life of a nation by miracle”, he said.
by Tony Adams. via: Edo Political Forum (EPF)
Governor
Adams Oshiomhole of Edo State has called on government at all levels in
the country to devote more funds to capital projects to fast-track the
development of infrastructure in the country.
The governor who said Nigerians cannot continue to lament the failures of the past said rather, proactive measures should be taken to correct the mistakes of the past.
Speaking at a lecture to celebrate the 78th birthday of former Head of State, General Yakubu Gowon, at the National Institute for Policy and Strategic Studies in Kuru, near Jos, Plateau State at the weekend, Oshiomhole called on the Governor of the Central Bank to help bring down the lending rate.
“We cannot catch up with advanced nations when we spend eighty per cent on recurrent expenditure and twenty per cent on capital expenditure. If we spend eighty per cent on recurrent expenditures and twenty per cent on capital, we will never catch up with Malaysia. Can we stop lamenting yesterday and start with this year’s budget? I am not bothered on how we lost yesterday, I am bothered about the fact that we are unable to learn from the lesson and secure our tomorrow. We have no right to spend more than what we have or 80 per cent of every kobo we have on recurrent expenditure. When I went to Edo State, I found out that my predecessor was spending about 80 per cent on recurrent expenditure and I said no, you have to reverse it in favour of capital; 60 per cent capital, 40 per cent recurrent,” he said.
The governor said there is also an urgent need to review the revenue allocation, saying “today, Abuja (FG) takes 52 per cent of the total revenue”.
While commending Gen. Gowon for what he described as his courage and exemplary leadership to rule the nation during the civil war, Comrade Oshiomhole said in that era Nigeria believed in planning.
“In the days of Gen. Gowon nothing happened by accident, but due to meticulous planning. They knew that if they created the railway, it will take a number of passengers and take care of a number of jobs, so nothing happens in the life of a nation by miracle”, he said.
The governor who said Nigerians cannot continue to lament the failures of the past said rather, proactive measures should be taken to correct the mistakes of the past.
Speaking at a lecture to celebrate the 78th birthday of former Head of State, General Yakubu Gowon, at the National Institute for Policy and Strategic Studies in Kuru, near Jos, Plateau State at the weekend, Oshiomhole called on the Governor of the Central Bank to help bring down the lending rate.
“We cannot catch up with advanced nations when we spend eighty per cent on recurrent expenditure and twenty per cent on capital expenditure. If we spend eighty per cent on recurrent expenditures and twenty per cent on capital, we will never catch up with Malaysia. Can we stop lamenting yesterday and start with this year’s budget? I am not bothered on how we lost yesterday, I am bothered about the fact that we are unable to learn from the lesson and secure our tomorrow. We have no right to spend more than what we have or 80 per cent of every kobo we have on recurrent expenditure. When I went to Edo State, I found out that my predecessor was spending about 80 per cent on recurrent expenditure and I said no, you have to reverse it in favour of capital; 60 per cent capital, 40 per cent recurrent,” he said.
The governor said there is also an urgent need to review the revenue allocation, saying “today, Abuja (FG) takes 52 per cent of the total revenue”.
While commending Gen. Gowon for what he described as his courage and exemplary leadership to rule the nation during the civil war, Comrade Oshiomhole said in that era Nigeria believed in planning.
“In the days of Gen. Gowon nothing happened by accident, but due to meticulous planning. They knew that if they created the railway, it will take a number of passengers and take care of a number of jobs, so nothing happens in the life of a nation by miracle”, he said.
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