Osinbajo warns Nigerians not to rely on single commodity

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R-L: Vice President Yemi Osinbajo, Governor Ibikunle Amosun,his wife, Olufunso and former Mexican president

R-L: Vice President Yemi Osinbajo, Governor Ibikunle Amosun,his wife, Olufunso and former Mexican president Mr Felipe Calderone at the summit.
Photos: Ayodele Efunla

Vice President Yemi Osinbajo has appealed to Nigerians not to rely on a single commodity for foreign exchange earning.

Osinbajo made this appeal Tuesday at the 4th Ogun State Investors Forum with the theme: ‘Consolidating the Gain, Accelerating Growth,’ held at the June 12 Cultural Centre, Abeokuta, Ogun State capital.

He called for more investment in infrastructure, agriculture and technology, adding that there is need to implement policies that will attract private sectors and investors to these areas.

Osinbajo charged Governor Ibikunle Amosun of Ogun State not to relent in his ambitious mission to rebuild the state. He urged him to provide more grants to small farmers by distributing fertilizer and farm equipment to them.

In his own remark at the occasion, the Minister of Agriculture Audu Ogbeh accused Nigerians of abandoning agriculture for importation.

”This is why our youth go into voluntary slavery in Libya and Europe

“But now, we are looking more into the future rather than what we have been doing in the past,” he stated.

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The minister called for the setting up of a ministry for the future to galvanise the youth to productive ventures.

“We should set up a ministry for the future, we should industrialise now or fall into a terrible pit,” he added.

Industry giant Oba Otudeko and others at the summit. Photos by Ayodele Efunla

Amosun in his speech said the forum is significant as it is the last edition his administration will host for the socio-economic development of Ogun State.

“About six years ago, the state was ranked at 35th out of 36 states. In terms of the World Bank’s ease of doing business rating in Nigeria, the state was nowhere to be found but now it is at the top. It is important that this administration created an enabling environment for the private sector to thrive.

On the way forward and how Nigeria can put an end to the present economic crises, keynote speaker, former president of Mexico, Mr Felipe Calderone charged government to increase revenues, reduce expenditures, create jobs and opportunities for people, reduce industrial tariffs in order for people to survive, allow private sectors to invest , invest in health sector, education and technical education.

Governor Ibikunle Amosun delivering his address at the summit

Felipe advised Nigerians not to depend on foreign trade but charged them to provide new economy and increase their productivity.

”If these strategies worked in 2009 when Mexico had perfect storm which led to criminal violence, falling of government revenue, it will also work and make a way for Nigeria, if properly applied,” he concluded.

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