Elected governors are encouraged to diversify and not rely on crude oil revenues in their region.
Naija News has obtained from Channels TV that this is the position of the Director General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala.
According to her, states that are too dependent on the Federal Monthly Account Allocation Commission (FAAC) will be hit hard.
Okonjo-Iweala presented on Monday at a showcase held for elected governors in Abuja.
This comes two weeks before the May 29 inauguration. She noted:
“We need to start preparing now for the time when oil and gas are no longer our main source of income. Countries that rely heavily on FAAC allocations will be particularly affected.
“It is important that you, governors, start diversifying your income streams now. We should aim to double our growth rate and maintain that higher growth rate until we reach the upper middle income level.
“Dear Governors, let us be frank:
Trust in Nigeria has always been fragile, but after the election, a lot of that trust was shattered. “By your words, actions and policies, you must demonstrate to the people of Nigeria that they are equally loved. That they can settle and do business anywhere in the country without fear. I love Nigeria so much and want to feel welcome anywhere in this country.” this country.
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