Ogun State's Rele Adesina talks economic recovery
Ogun State has received approval from the State's house of Assembly to obtain a 66 billion naira loan to help fund his state's 221 billion Naira budget for 2017.
Fri, 10 Feb 2017 13:54:45 GMT
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AI Generated Summary
- The budget for 2017 in Ogun State is focused on repositioning the state's economy through investments in infrastructure, agriculture, and education.
- The state is prioritizing increasing its internally generated revenue (IGR) and attracting private sector investment to drive growth.
- Ogun State aims to strike a balance between fiscal constraints and the need for strategic investments in key infrastructure projects to spur economic transformation.
Ogun State's Commissioner for Economic Planning and Project, Rele Adesina, recently appeared on CNBC Africa to discuss the state's budget for 2017, which has been titled 'The Budget of Repositioning.' The budget reflects Ogun State's strategic approach to economic recovery and development, focusing on key areas such as infrastructure, agriculture, and education. Adesina highlighted the state's efforts to increase its internally generated revenue (IGR) and attract private sector investment to drive growth and development. She emphasized the importance of infrastructure development in unlocking opportunities for industries and enhancing urban-rural connectivity. Adesina also discussed the challenges facing states like Ogun, including the need to balance fiscal constraints with the imperative of investing in critical infrastructure. She underscored the state's commitment to leveraging both public and private capital to fund major infrastructure projects and drive economic transformation. Despite the ongoing recession, Adesina expressed optimism about the state's growth prospects, citing the momentum gained from initiatives to boost IGR and attract industrial activity. Overall, Ogun State's focus on sustainable development and prudent fiscal management positions it well for future growth and economic recovery.
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