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

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
Next Story »Chelsea, Man U, others braced for risky January window« Previous Story2016 will bring economic challenges, but ….. – Ambode
You might also like

N1.04trn fine: We expect no operation disruptions for not paying fine —MTN

Appeal Court nullifies Gov Ikpeazu’s election, declares Otti winner

Breakingnews: About 50 heavily armed soldiers deployed to Wike’s residence

In 2016 there will be large scale scarcity, shortage of food – TB Joshua

Inside Boko Haram’s Hideout: The story of Sambisa forest

Military alerts on terrorists’ plan to use beggars for attacks

New Year message: I know Nigerians are in pains — Buhari

Dasukigate: EFCC arrests serving colonel
Add Comments


9 comments

Sign in27


Post comment as...
Newest | Oldest | Top Comments

BalogunRosmary 49 minutes ago
g0lf c@mry #2oo,ooo. and ab0ve, and many m0re. Call t0 kn0w if y0ur ch0ice i$ available call PASTOR CUSTO-M. James - 08131184221 .

LikeReply

Kayode Adedotun Adeyemi from Facebook1 hour ago
President Putin Finally Expose The Real People That Created ISIS. [Only mods are allowed to see this link]

LikeReply

Debo Oyekeye from Facebook1 hour ago
Who is talking? Wonders shall never end

LikeReply

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