The governor of Oyo State, Abiola Ajimobi, has raised the alarm that\u00a0about 28 states in the country might have gone technically bankrupt.<\/p>\n
The governors disclosed this at the 7th annual Lateef Femi Okunnu\u00a0lecture, delivered by Ajimobi and titled: \u201cState financing and\u00a0over-dependence on oil: issues and challenge,\u201d at the Obafemi Awolowo\u00a0University, Ile-Ife.<\/p>\n
The event was put together by the Muslim Law Students of OAU.<\/p>\n
He said that penchant for tax evasion by citizens, public and\u00a0corporate entities, as well as corruption and disrespect for the rule\u00a0of law were major challenges facing the states.<\/p>\n
To get out of the doldrums, he again reminded the country that\u00a0agriculture value chain was a neglected potential cash cow that must\u00a0be revisited.<\/p>\n
Besides, the governors said that the country\u2019s fortune could be turned\u00a0around if the opportunities in solid minerals, information and\u00a0communication technology, services, manufacturing and others were\u00a0explored.<\/p>\n
Ajimobi said, \u201cOur attitude is antithetical to development. We need to\u00a0change our attitudes completely about payment of taxes and levies if\u00a0we must avert the impending economic doom.<\/p>\n
\u201cAs I speak, I can conveniently say that 28 states are technically\u00a0bankrupt. The jaundiced view that taxes and levies might be embezzled\u00a0if paid is an anathema. Public office holders are supposed to hold in\u00a0trust public treasury. To do otherwise is to court the wrath of the\u00a0law after leaving office.<\/p>\n
\u201cTo the youths, I challenge you to imbibe positive leadership\u00a0qualities such as you have found in our honoree and among other\u00a0distinguished personalities you have seen or read about.<\/p>\n
\u201cYou must join the moving train of development and explore information\u00a0technology positively to advance in the current and future world.\u201d<\/p>\n
On his part, expressing similar sentiments, his Osun State\u00a0counterpart, Mr. Rauf Aregbesola, also said that the country was\u00a0sitting on a tinderbox with its army of unemployed youths.<\/p>\n
Aregbesola was confident that an estimated N625bn and more than N7tr\u00a0could be injected into the economy on a monthly and annual basis\u00a0respectively if the 25m youths said to be unemployed are gainfully\u00a0employed.<\/p>\n
The Osun helmsman noted that the creative energy of the citizens,\u00a0especially the youth, would be activated and unleashed if the states\u00a0and the country were to respond to the pervading challenges
\nappropriately.<\/p>\n
He said, \u201cThis will lead to increased productivity and wealth creation\u00a0on a scale that we have never witnessed before.<\/p>\n
\u201cIf the 25m youths said to unemployed by the National Bureau of\u00a0Statistics today decide that they want to work and decently\u00a0earnN25,000 every monthly it means N625bn new money will enter into\u00a0the Nigeria economy.<\/p>\n
\u201cHere we need to separate between earning and collecting. If the\u00a0youths decide to work like bulls then we will be talking about more\u00a0than N7tr new money annually entering into the Nigerian economy.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The governor of Oyo State, Abiola Ajimobi, has raised the alarm that\u00a0about 28 states in the country might have gone technically bankrupt. The governors disclosed this at the 7th annual…<\/p>\n","protected":false},"author":1,"featured_media":44650,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-44649","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n