2016: Gov. Aregbesola urges Nigerians to redouble efforts on wealth creation January 01, 2016 at 1:24 pm in News FacebookTwitterSMSWhatsApp Osogbo – Gov.

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2016: Gov. Aregbesola urges Nigerians to redouble efforts on wealth creation January 01, 2016 at 1:24 pm in News FacebookTwitterSMSWhatsApp Osogbo – Gov.

Post by emmy on Fri 1 Jan 2016 - 16:27

Osogbo – Gov. Rauf Aregbesola of Osun has called on Nigerians to redouble their productivity and be wealth creators in 2016 because the era of dependence on crude oil money had ended in the country.
Aregbesola made the call in his new year address to the people of his state on Friday in Osogbo.
According to him, there is dwindling national economic earning which was compounded by continuous fall in crude oil prices globally.
He said the situation implied that revenues derivable from the Federation Account as the basis for running government had reduced to little or nothing.
“The undisputed evidence of crude oil fall is that a barrel of crude oil which went for 140 dollars in 2013, sold for 31.71 dollars as at yesterday (Thursday).
“There are prognosis that before long, it might drop below 20 dollars.
“The effect of this sharp reduction is that the distributive pool of the federation account that hit a zenith of N1.3 trillion in 2012 dropped to a new low of N369 billion in November allocation shared in Dec. 2015.
“It means for us that the era of unearned revenue has come to an end and we are now entering into a new period where it is imperative for us to work for our own money before we can spend it,” he said.
Aregbesola said the period demanded innovation, creativity, productivity, industry and wealth creation.
He called on Nigerians, irrespective of trade, to work harder, be innovative and redouble their productivity to sustain the Nigerian economy.
He called on the youth and school leavers to embrace the philosophy of hard work and innovation, saying they should engage in farming and skill acquisition for self-employment.
He said the government would do everything within its powers to maintain its covenant with the people, assuring them that they would not be left alone
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OkeyMor57 1 hour ago
A good place to start is the salaries and compensations of executive and legislative arms of the government bringing them inline to the state GDP. .

It is a shame that Nigeria pays its chief executive 8 times the pay of the world largest economy, USA. The US president manages a $17 trillion economy and is paid an annual compensation of $400 thousand. He pays for all his private expenses including vacations and food. President M. Buhari manages a $500 billion economy and is paid a whopping $3.2 million dollars in pay and allowances. 8 times the pay from an economy that is 34 times smaller.

To put this in perspective, if Nigeria pays its executives and legislature the exact same salary and allowances allowed their USA counterparts, Nigeria would save $150+ million dollars every year. E ought money to build a 100 km road every year. E ought highway to go north to south two times over in 20 years. This is only for the federal managers imagine the saving if we extend the same to the


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