Stop Relying On Federal Allocation, Ambode Urges Govs

Governor Akinwunmi Ambode of Lagos State weekend said that many states of the federation could no longer survive on allocation from the centre, therefore, urging states to explore alternative means

of funding. He made this declaration while delivering a convocation lecture titled, “Recession: Challenges and Recovery Prospects” at the Wellspring University, Benin City, Edo State. Lagos State Governor, Mr. Akinwunmi Ambode, The governor who was represented by his Commissioner for Finance, Akinyemi Asahde, noted that the nation is blessed with abundant human and natural resources and if properly harnessed by the states would make them less dependent on the Federal Government. He said:”The current focus on the centre for the economic sustenance of states is not sustainable. Each state or perhaps more appropriately, regions must figure out their own economic path by focusing on the areas they have a comparative advantage and developing it. This calls for hard work by the state governments and thinking outside the box. “We cannot have a stable economy when the states are not independently viable. Luckily, we are blessed in this country where arguably every state of the federation is endowed with natural resources that can make it self-sustainable.” “Regional collaboration should also be encouraged, a good example is the collaboration between Lagos State and Kebbi State to produce Lake rice which is currently being sold in the market,” he said. Earlier, the Vice Chancellor, Professor Obi Ikediugwu in his opening remarks said the lecture was timely considering the current economic situation of the country. He urged the students to internalize what they have been taught in the lecture.