By Abubakar Shuaibu. A
In a move to tap into the potentials of the State and boost its revenue base by way of diversification, the Kogi State Government had expressed readiness to diversify its economy.
The report of “Shared Hope & Posterity for Kogi State Government” was presented to the Revenue Mobilization Allocation & Fiscal Commission (RMAFC) team, at the conference Room of the Government House, Lokoja.
The State Seeks to access One hundred & Eighty Two Billion, Seven Hundred Million Naira (N182.7 Billion) from, the Development of Natural Resources Fund (DNRF).
When granted the fund will be judiciously utilized to boost Solid Minerals with N52.8 Billion, Agriculture-N92.1 Billion and Tourism N38.1 Billion respectively.
Besides the presentation of Report, the RMAFC team will also indulge in verification of outlined projects for accessing fund from DNRF grant.
Speaking at the presentation of the Report, His Excellency, the Executive Governor of Kogi State, Alhaji Ahmed Usman Ododo said the Internally Generated Revenue (IGR) of Kogi State has leapfrog from mere Three Hundred Million Naira (N300, 000.000.00) in 2016 to about Twenty Six Billion, Seven Hundred Million Naira (N26.7 Billion) in 2023.
The Governor who was represented by the Secretary to the Government of Kogi State (SGS), Mrs. Folashade Arike Ayoade, Ph.D said the States` IGR is projected to rise by the end of 2024 to about Thirty Billion Naira (N30 Billion) respectively.
According to the governor this gives ample opportunity to grow the economy rapidly using the DNFR grant in the critical sectors of Solid Minerals, Agriculture and Tourism.
He emphasized that to enable conducive environment for businesses to thrive, more than 1,000 vigilante members have been equipped with State-Of –The – Art equipment across the 21 Local Government Areas of the State with marching orders to free the forests of criminal hide- outs.
Governor Ododo thanked the RMAFC team for the rare privilege granted the State to present its report in Lokoja other than RMAFC, headquarters in Abuja.
Adding that the Team should explore the incredible advantages Kogi has to offer in the critical areas of “Solid Minerals, Agriculture, and Tourism”. And grant the State access to the funds.
Speaking earlier, the Chairman of the Physical Efficiency and Budget Committee, His Excellency, Alhaji Adamu Shettima Yuguda, former Deputy Governor of Borno State, said Kogi State request to access the DNRF grant to diversify its source of earnings is in line with the Federal Government yearnings to move revenue focus away from oil.
He added that the 1.68 per cent of the Development of Natural Resources Fund is meant for economic diversification through Agriculture, Solid minerals and tourism development earnings.
His Excellency, Alhaji Adamu maintained that the fund is kept in Trust with the Federal Government therefore will be fair in its report for the State to access and develop its natural resources.
Presenting the report on behalf of the State Government, the lead consultant for A.O.B Enterprise Support Limited, Mr. Wale Bodunde argued that Kogi State is the only State in the Federation surrounded by ten States giving it a huge economic advantage.
He said the State is also blessed with massive landmass for the development of Agriculture, has abundant natural resources laying mostly untapped and is also blessed with colonial history, waterfalls, mountains and confluence of Rivers Niger and Benue, which are indices for the development of Tourism.
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