Edo State Government has been advised to invest in creating economic opportunities that directly impact on the lives of the people, so as to also grow its Internally Generated Revenue (IGR).
The Economic Adviser to President Muhammdu Buhari, Prof. Dr. Doyin Salami who gave the advice at the Edo State Executive Council retreat also called for incentivizing the process of formalizing the informal sector.
Edo State Government is currently hosting members of the Executive Council to a management leadership strategy retreat aimed at harnessing its human and natural resources to drive sustainable development across all sectors of the state’s economy.
The retreat, themed, ‘Building the Ethos of Governance and Business,’ is holding in Lagos, with the Economic Adviser to the President, Prof. Dr. Doyin Salami; Managing Director, Financial Derivatives Company Limited, Bismarck Rewane, Chief Executive Officer, Zinox Group, Dr. Leo Stan Ekeh, among others, as guests.
In attendance are the Edo State Governor, Mr. Godwin Obaseki; Deputy Governor, Rt. Hon. Comrade Philip Shaibu; Secretary to the State Government, Osarodion Ogie Esq., Special Advisers and Commissioners and other members of the Edo State Executive Council.
Salami, who lauded the Edo State Government on the initiative for the retreat, stressed on the need for state-level data to be able to generate real-time data to inform decision-making and engender sustainable development in the state.
According to him, “There is a need to generate data at the state level and I suggest the creation of a data agency so that the state can generate internal data that will be able to drive sustained and sustainable progress.”
He noted that one of the quickest ways of impacting the lives of the people is to devise policies to reduce food prices, which is one of the biggest challenges of Nigerians.
On his part, Rewane said Edo State can grow at a Gross Domestic Product (GDP) rate of 7.8 percent if the government takes bold and strategic decisions to harness its resources to drive development.
He said some of the issues that may impact the achievement of the growth rate in the state include Africa Continental Free Trade Area (AfCTA), PMS subsidy removal, Dangote Refinery, agriculture, imposition of taxes such as sugar tax and digital service.
Rewane noted that the growth areas in the state include agriculture, culture and tourism, light manufacturing and power, noting that the state has huge potential to become a leisure hub.
