Ngozi Okonjo-Iweala, Director-General of the World Trade Organization (WTO) has advised Governors-Elect to start thinking on how to diversify the sources of revenue within their states and quit too much dependence on Oil.
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| World Trade Organization (WTO) Director-General, Ngozi Okonjo-Iweala, participating at the World Economic Forum (WEF) Sessions. Photo: wto.org |
Okonjo-Iweala made the statement while speaking on Monday 15 May, 2023, at an induction put together for elected governors, in Abuja, two weeks prior to May 29.
At the event, the WTO Boss said: “We need to start preparing now for a time when our oil and gas will no longer serve us as the main sources of revenue. States with a heavy dependence on FAAC allocation will be particularly hit.
“It is important that you governors start now to diversify your revenue sources. We ought to be seeking to double our growth rate and sustain that higher growth until we attain upper middle-income status.
“Honourable governors, let us be candid: trust in Nigeria has always been fragile but following the elections, a lot of trust has been broken.
“Through your words, deeds, and policies, you need to demonstrate to Nigerians that they are equally loved. That they can settle and do business in any part of the country without fear. I love Nigeria deeply and I want to feel welcome in any part of this country.”
