{"id":16696,"date":"2019-10-12T19:03:05","date_gmt":"2019-10-12T19:03:05","guid":{"rendered":"https:\/\/www.africa-press.com\/nigeria\/?p=16696"},"modified":"2019-10-12T19:03:05","modified_gmt":"2019-10-12T19:03:05","slug":"osinbanjo-calls-for-diversification-of-nigerias-economy","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy","title":{"rendered":"Osinbanjo calls for diversification of Nigeria\u2019s economy"},"content":{"rendered":"

Vice President Yemi Osibanjo<\/a>, yesterday said key economic measures must be taken by both the federal and state governments in order to pull the country out of the poverty, saying the nation must diversify its mono economic principle on over reliance on oil wealth.<\/p>\n

He said reliance on oil was not only unsustainable, lamenting that it was not also capable of creating jobs and building enduring infrastructure that would support rapid economic growth.<\/p>\n

Speaking during the 18th Joint Planning Board and National Council on Development Planning meeting in Asaba, the Delta State capital, Osinbajo stressed the need for the Federal, State and Local Governments to collaborate in the fight against poverty in the country.<\/p>\n

According to him, a synergy among federal, state and local governments was imperative so that citizens could be productively engaged and lifted out of poverty, urging States in the country to improve tax administration and widen tax nets to make it easier for people to pay taxes and spur development.<\/p>\n

He commended the organisers for the theme of the meeting: \u201cState Fiscal Sustainability and Economic Diversification in Nigeria\u201d, adding that the theme was timely and at the core of governance at all levels.<\/p>\n

Osinbajo said; \u201cOver the years, the level of funding at the Federal Accounts Allocation Committee, FAAC has fluctuated and federal revenue, including annual Internally Generated Revenue cannot meet the needed development in the states.<\/p>\n

\u201cSo, states must overcome these fiscal challenges that they face by engaging in fiscal strategic planning and identify areas they have comparative advantages.<\/p>\n

\u201cThey should also take advantage of the entrepreneur skills of Nigerians by empowering economic clusters of small businesses with infrastructure, tools and equipment.\u201d<\/p>\n

Governor Ifeanyi Okowa who also spoke at the meeting, said it was imperative for state chief executives to imbibe the culture of fiscal discipline, pointing out that without such, there could be no fiscal sustainability.<\/p>\n

He stated that observation of fiscal rules was the first step to achieving fiscal sustainability, adding that annual budgets of States must be derived from the Fiscal Strategy Paper in line with Fiscal Responsibility Law.<\/p>\n

\u201cIn Delta State, we have adhered strictly to this law and all Ministries, Departments and Agencies (MDAs) are required to align their projects and programmes with available resources in short, medium and long term.<\/p>\n","protected":false},"excerpt":{"rendered":"

Vice President Yemi Osibanjo, yesterday said key economic measures must be taken by both the federal and state governments in order to pull the country out of the poverty, saying the nation must diversify its mono economic principle on over reliance on oil wealth. He said reliance on oil was not only unsustainable, lamenting that […]<\/p>\n","protected":false},"author":62,"featured_media":11325,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,14],"tags":[1010,204,849,395],"class_list":["post-16696","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-economic-principle","tag-government","tag-osinbajo","tag-vice-president"],"yoast_head":"\nOsinbanjo calls for diversification of Nigeria\u2019s economy - Nigeria<\/title>\n<meta name=\"description\" content=\"Vice President Yemi Osibanjo, yesterday said key economic measures must be taken by both the federal and state governments\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Osinbanjo calls for diversification of Nigeria\u2019s economy\" \/>\n<meta property=\"og:description\" content=\"Vice President Yemi Osibanjo, yesterday said key economic measures must be taken by both the federal and state governments\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-12T19:03:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/2019\/06\/a3e081f4-yemi-osinbajo-696x385.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"696\" \/>\n\t<meta property=\"og:image:height\" content=\"385\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"alico\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"alico\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy\"},\"author\":{\"name\":\"alico\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/50afd2ef4f0e900bd0a176404a8484a7\"},\"headline\":\"Osinbanjo calls for diversification of Nigeria\u2019s economy\",\"datePublished\":\"2019-10-12T19:03:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy\"},\"wordCount\":389,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/2019\/06\/a3e081f4-yemi-osinbajo-696x385.jpg\",\"keywords\":[\"economic principle\",\"Government\",\"Osinbajo\",\"vice president\"],\"articleSection\":[\"all news\",\"Policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy\",\"name\":\"Osinbanjo calls for diversification of Nigeria\u2019s economy - Nigeria\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/2019\/06\/a3e081f4-yemi-osinbajo-696x385.jpg\",\"datePublished\":\"2019-10-12T19:03:05+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/50afd2ef4f0e900bd0a176404a8484a7\"},\"description\":\"Vice President Yemi Osibanjo, yesterday said key economic measures must be taken by both the federal and state governments\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/nigeria\/2019\/06\/a3e081f4-yemi-osinbajo-696x385.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/nigeria\/2019\/06\/a3e081f4-yemi-osinbajo-696x385.jpg\",\"width\":696,\"height\":385},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/nigeria\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Osinbanjo calls for diversification of Nigeria\u2019s economy\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#website\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/\",\"name\":\"Africa Press | Nigeria | Homepage\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/nigeria\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/50afd2ef4f0e900bd0a176404a8484a7\",\"name\":\"alico\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/author\/alico\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Osinbanjo calls for diversification of Nigeria\u2019s economy - Nigeria","description":"Vice President Yemi Osibanjo, yesterday said key economic measures must be taken by both the federal and state governments","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy","og_locale":"en_US","og_type":"article","og_title":"Osinbanjo calls for diversification of Nigeria\u2019s economy","og_description":"Vice President Yemi Osibanjo, yesterday said key economic measures must be taken by both the federal and state governments","og_url":"https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy","og_site_name":"Nigeria","article_published_time":"2019-10-12T19:03:05+00:00","og_image":[{"width":696,"height":385,"url":"https:\/\/static.africa-press.net\/nigeria\/2019\/06\/a3e081f4-yemi-osinbajo-696x385.jpg","type":"image\/jpeg"}],"author":"alico","twitter_card":"summary_large_image","twitter_misc":{"Written by":"alico","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy"},"author":{"name":"alico","@id":"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/50afd2ef4f0e900bd0a176404a8484a7"},"headline":"Osinbanjo calls for diversification of Nigeria\u2019s economy","datePublished":"2019-10-12T19:03:05+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy"},"wordCount":389,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/nigeria\/2019\/06\/a3e081f4-yemi-osinbajo-696x385.jpg","keywords":["economic principle","Government","Osinbajo","vice president"],"articleSection":["all news","Policy"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy","url":"https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy","name":"Osinbanjo calls for diversification of Nigeria\u2019s economy - Nigeria","isPartOf":{"@id":"https:\/\/www.africa-press.net\/nigeria\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/nigeria\/2019\/06\/a3e081f4-yemi-osinbajo-696x385.jpg","datePublished":"2019-10-12T19:03:05+00:00","author":{"@id":"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/50afd2ef4f0e900bd0a176404a8484a7"},"description":"Vice President Yemi Osibanjo, yesterday said key economic measures must be taken by both the federal and state governments","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy#primaryimage","url":"https:\/\/static.africa-press.net\/nigeria\/2019\/06\/a3e081f4-yemi-osinbajo-696x385.jpg","contentUrl":"https:\/\/static.africa-press.net\/nigeria\/2019\/06\/a3e081f4-yemi-osinbajo-696x385.jpg","width":696,"height":385},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/nigeria\/all-news\/osinbanjo-calls-for-diversification-of-nigerias-economy#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/nigeria\/"},{"@type":"ListItem","position":2,"name":"Osinbanjo calls for diversification of Nigeria\u2019s economy"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/nigeria\/#website","url":"https:\/\/www.africa-press.net\/nigeria\/","name":"Africa Press | Nigeria | Homepage","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/nigeria\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/50afd2ef4f0e900bd0a176404a8484a7","name":"alico","url":"https:\/\/www.africa-press.net\/nigeria\/author\/alico"}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/posts\/16696","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/users\/62"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/comments?post=16696"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/posts\/16696\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/media\/11325"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/media?parent=16696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/categories?post=16696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/tags?post=16696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}