Wednesday, 26 April 2017

Recession: Reps ask other states to learn from Lagos

As Nigeria gradually makes its way out of economic recession, the House of Representatives on Wednesday commended the Lagos State Government’s role, saying that the success story of the State was not only benefitting residents, but helping to get the nation’s economy back on the track.
Chairman of the House of Representatives Committee on Economic Recession, Hon. Olabode Ayorinde who said this when he led members of the Committee on a courtesy visit to Governor Akinwunmi Ambode  at the Lagos House in Ikeja, said the State currently dictates the pace of the economy in Nigeria.
While congratulating the Governor on his developmental strides in the last two years, Ayorinde said other States could learn from the template Lagos deployed to tackle the economic recession.
He said: “We take legislative notice of the serious development that is going on in Lagos State and with your permission, we don’t mind interacting with those that are in charge perhaps there are one or two things that we can recommend to other states in the nation because in togetherness we can only move this nation forward.
“Talking seriously, the economic power of Lagos State also dictates the pace of the economy in Nigeria. Some of the steps that Lagos is taking now, some other States that have not been able to pay salaries may not be able to take such steps.
We are looking at this nationally; for example, if an industry is working in Lagos that is employing about 5000 persons I am sure that the company will not employ only citizens of Lagos State.
So, it is to the benefit of Nigeria and if the Gross Domestic Product (GDP) of the country increases, it is not a factor of where it comes from, wherever the economy has been improved, it is national income and Nigeria will be better for it.”
Earlier, Ayorinde said he was in Lagos with his team to inspect some of the moribund industries in the State, with a view to coming up with appropriate legislations that would help them get back in business.
Responding, Governor Ambode said his administration intensified its capital expenditure to reflate the State’s economy, noting that 60 percent of its budget last year was ploughed towards infrastructural projects in all parts of the State to tackle recession.
He said such projects contributed significantly to keep the State’s economy afloat with low income earners engaged, adding that it was important for government at all levels to keep spending on infrastructure.




Punch

No comments:

Post a Comment

All comments, advise and encouragement are always welcome.
We are here to serve you better.

Thanks for visiting!



Management