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Okonjo-Iweala warns incoming governors against dependence on oil sector

May 16th 2023, 12:27:37 pm

Okonjo-Iweala also called on the governors-elect to rebuild trust with Nigerians through their policies and programmes

Former foreign and finance minister Ngozi Okonjo-Iweala, currently serves as the Director-General of the World Trade Organisation

Speaking on Monday, May 15, 2023, during an induction organised for the incoming governors in Abuja, Okonjo-Iweala warned that states with a heavy reliance on the monthly Federation Account Allocation Committee (FAAC) would be particularly hard hit in the future.

The WTO boss stressed the need to start preparing now for a time when oil and gas would no longer be the main sources of revenue for Nigeria.

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She urged the governors-elect to focus on doubling the country's growth rate and sustaining that higher growth until Nigeria attains upper middle-income status.

In addition to her economic advice, Okonjo-Iweala also called on the governors-elect to rebuild trust with Nigerians through their policies and programmes.

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She noted that trust in Nigeria has always been fragile, but the 2023 general elections had broken a lot of that trust. Hence, the incoming governors, therefore, need to demonstrate through their words, deeds, and policies that Nigerians are equally loved and can do business in any part of the country without fear.

Okonjo-Iweala concluded by expressing her love for Nigeria and her desire to feel welcome in any part of the country.

Ima Elijah
Ima Elijah is a Senior News Reporter at Pulse.

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