By JOSHUA OMOLOYE
- Receives state economic, policy development reports
Kogi State Economic Advisory Council has summited its maiden blueprint reports of the short and medium-term economic and development policy priority to the state government.
During the presentation of the documents in Abuja on Friday, the Alternate Chairman of the Council, Olusiji Aina said the report is predicated on an in-depth assessment and the prevailing domestic and global economic conditions.
Aina stressed that the Short and Medium Term Economic and Development Priorities Report emphasizes the principle of shared responsibility between stakeholders such as the three (3) tiers of government, private sector, traditional institutions, civil society organizations as well as domestic and international development partners amongst others.
The Alternate chairman said the reports is to ensure achievable promotion of sustained inclusive growth and development goal in Kogi State.
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While receiving the report, Deputy Governor of Kogi State, Edward Onoja commended efforts of the Council, resources and time together in achieving the results. Onoja stated that a leader who fail to plan for the future jeopardizes the next generation to come, added that the Government of Kogi state has set a good pillar for the next Government to start from the next laid structures, The Trumpet gathered.
The deputy said “the Yahaya Bello administration’s renewed vision to address the development challenges of the state is timely, addressing the inclusive growth challenges in the state in the face of obvious budgetary constraints in addition to emerging developments such as the post-pandemic world and the oil price shock induced by the Russian invasion of Ukraine.
“These issues continue to constrain fiscal space and magnify vulnerabilities. Consequently, monthly statutory allocation to the State from the Federation Account remains low even with high oil prices occasioned by the Russian invasion of Ukraine.
In the absence of stable domestic crude oil production, this impact is likely to persist over the short to medium term.
“The report is predicated on an in-depth assessment and the prevailing domestic and global economic conditions.
The Kogi State Economic Advisory Council (KoSEAC) is of the view that the administration’s goal of promoting sustained inclusive growth and development is achievable.
