Support Infographics Daily News Dotcom

Podcasts.

NIGERIA: Stop dependence on oil, diversify revenues, Okonjo-Iweala

-

 


The Director-General of the World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala has encouraged incoming governors to stop depending on crude oil and diversify the sources of revenue in their regions.
She spoke on Monday during an induction organised for elected governors in Abuja, two weeks before the May 29 inauguration. According to her, states with over-dependence on the monthly Federation Account Allocation Committee (FAAC) would be badly hit.
“We need to start preparing now for a time when our oil and gas will no longer serve us as the main sources of revenue. States with a heavy dependence on FAAC allocation will be particularly hit,” Okonjo-Iweala stated.
“It is important that you governors start now to diversify your revenue sources. We ought to be seeking to double our growth rate and sustain that higher growth until we attain upper middle-income status.”

Comments

Post a Comment

Popular posts from this blog

Arsenal 4-1 Newcastle: 'Efficient' Gunners showing 'no fear'

-
Image
  Arsenal beat  Newcastle  4-1 in the Premier League on Saturday. It was the Gunners' sixth successive victory in the league. They have scored 25 goals and conceded just three in that run. Arsenal are the sixth side to win their first six Premier League matches of a calendar year - the last three have won the title. "We are living the dream," Arsenal captain Martin Odegaard told TNT Sports as his side moved two points behind leaders Liverpool in third. "We have all dreamed of being here. You see every week how competitive it is and that is where we want to be - we want to fight for trophies." While Arsenal have won every game they have played in the Premier League in 2024, they did lose to Porto in the first leg of their Champions League last-16 tie in midweek, conceding a stoppage-time goal. But they responded in style with four goals in a 4-1 win against Newcastle on Saturday. "They look like a team really upset with the midweek performance. Their press a...
Read more

Protest Erupts in Abuja Over Demolition of Homes by FCT Minister Wike

-
Image
  Residents of Ruga, a settlement along Airport Road in Abuja, staged a protest on Friday against the demolition of their homes by the FCT Minister, Nyesom Wike. The demolition was part of the minister’s initiative, *Operation Sweep*, aimed at clearing areas within the capital deemed as nuisances and hotspots for criminal activities. The protest was led by prominent lawyer and activist Deji Adeyanju, alongside Vincent Martins Otse, also known as VeryDarkMark. They accused Wike of carrying out the demolitions with malicious intent, claiming the task force destroyed numerous homes and property worth millions of naira. Adeyanju expressed concern for the displaced residents, many of whom had fled conflict zones in northern Nigeria, including Borno, Adamawa, and Yobe states. He appealed to President Bola Tinubu to consider the hardships faced by these displaced individuals, most of whom are artisans struggling to survive. He condemned the demolitions as excessive and unjustified, urging...
Read more

AFCONQ: Osimhen Makes Return as Eguavoen Names 23-Man Squad for Rwanda and Benin Matches

-
Image
  Super Eagles interim coach, Austin Eguavoen, has announced a 23-man squad for Nigeria’s upcoming 2025 Africa Cup of Nations (AFCON) qualifiers against Rwanda and Benin. The squad sees the return of star players Victor Osimhen and Sadiq Umar as the 2013 AFCON champions aim to secure their spot in next year’s tournament in Morocco. Currently leading Group D with 10 points, Nigeria has earned six points from their encounters with Libya and needs just one more point to guarantee qualification for the 2025 AFCON. Full Super Eagles Squad - Goalkeepers: Stanley Nwabali, Maduka Okoye, Amas Obasogie - Defenders: Bright Osayi-Samuel, Calvin Bassey, William Troost-Ekong, Ola Aina, Bruno Onyemeachi, Gabriel Osho, Victor Collins - Midfielders: Alex Iwobi, Frank Onyeka, Raphael Onyedika, Wilfred Ndidi, Alhassan Yusuf, Fisayo Dele-Bashiru - Forwards: Ademola Lookman, Samuel Chukwueze, Victor Osimhen, Moses Simon, Kelechi Iheanacho, Victor Boniface, Umar Sadiq The Super Eagles will first...
Read more