The Kwara State Governor, Alhaji Abdulfatah Ahmed has blamed the present economic recession facing the country on failure to diversify the nation’s mono-economy.
He stated this in Ilorin while speaking at a cocktail party of the Third Estate Club, llorin Emirate held at Kwara hotels.
The governor noted that the mono-economy being practised in the country had necessitated the present economy trauma.
He added that the dwindling oil price in the international market led to drastic drop in the allocation to the states and local governments.
This, he said had made it difficult for the states and local governments to meet their obligations including payment of workers’ salaries.
The governor explained that his administration had put mechanism in place through revenue generation to address the problems.
He said the state revenue had improved from average of N500 million to N1.5 billion monthly.
He said his administration was also taking conscious efforts to address salary problems in the local governments and tertiary institutions in the state.
He stated that government had concluded arrangement to cultivate 10,000 hectares of land in rice, maize, cassava and soya beans across the 16 local governments.
The move according to the governor was to strengthen food production and diversification of the state economy.
He assured the Third Estate that the door of his administration is always open to partner with developmental associations to take state to promising land.
The President of Third Estate, Dr Yusuf Lawal said the deepening economc crisis remained the greatest worry to the club because the social value of the community was being threatened.
He said the club had been contributing its quota to community development through the renovation of schools, water projects and support of indigent students.
Guest speakers at the event, Engr Tunde Yusuf, Mr Ibrahim Adeboye from Federal Ministry of Environment and Alhaji Tunde Salami, decried the extreme level of poverty in the country, which they attributed to consumption without production.
They however emphasised the need for Nigeria to tap most of its un-tapped resources and develop entrepreneurship and self-employment to rescue the nation and Ilorin community in particular from economic recession.