The National Nhairman of the Peoples Democratic Party ( PDP), Uche Secondus, yesterday, charged governors elected on the platform of the party to work assiduously towards diversifying the economies of their respective states.
Secondus, who stated this, in Abuja, at the opening of a two-day summit for PDP states, organised by the PDP Governors Forum with the theme: “The Imperatives of Developing Internally Generated Revenue Options for State Governments in a Recessed Economy” said the oil economy was not sustainable.
Consequently, the PDP chairman urged the governors to cut down wastage and diversify the economy of their states to be able to prepare for the future.
Secondus, who was represented by the PDP National Financial Secretary, Abdulahi Maibasira, noted that with the myriads of challenges confronting the country, states can no longer depend majorly on federal allocations.
He added that it was not enough for the states to improve their Internally Generated Revenue (IGR), they must be prudent in the management of their resources.
“The myriad of problems facing the country, like poor infrastructure, poverty and the likes, necessitate the need for more sources of fund. But increased IGR may not solve the problem. The best way to do this is to be prudent in the management of resources. There must be a cut down in waste to be able to prepare for tomorrow.”
Director General of PDP Governors’ Forum, Osaro Onaiwu, said it was imperative for the governors of the opposition party to begin to prepare themselves for an economy without oil.
Onaiwu noted that the summit was informed by the need to “prepare ourselves with creative ideas and solutions to improve IGR so that when enough is not coming from Abuja, the state governments would still be in a position to fulfill their obligations to the people.”
He added: “As the world begins to move away from petroleum products, it means we can no longer continue to depend on revenue from crude oil. This is because in the very near future Nigeria may not have buyers for her oil.
“This is why it has become critical for states to find creative ways to generate revenue internally. This is not to be mistaken for a call for more taxes, but rather, a call to begin to think out of the box in preparation for when Abuja cannot share as much as it does now.
“Whether money comes from Abuja or not, there will still be a need for the states to build infrastructure, pay worker, provide health care, improve education plus more.”