Recession: Kwara traditional ruler urges FG to plug leakages

As part of the measures towards ensuring economic revival for the country, Oba Dr David Oyerinola, the Elerin of Adanla Kingdom, Kwara state, has enjoined the Federal Government to plug all leakages associated with the agriculture value chain and monitor the implementation of funds disbursement in that sector in order to realise its full potentials.

Oba Oyerinola, who is also a lecturer in the Department of Economics, University of Ilorin, stated this in an interview with journalists.

The monarch said that recession was a global phenomenon, pointing out that a mono product based economy like that of Nigeria would always be susceptible to economic recession due to the fluctuation in global oil market prices.

Dr. Oyerinola pointed out in order to get out of its current recession, Nigeria must embrace diversification through the development of its agricultural potentials as well as its mineral resources.

“We are endowed with arable land that can grow 90 per cent of the food stuff that we are importing into this country; if the government is well committed and those in government monitor the disbursement of funds to agriculture, there is no reason, with the Basins that we have- the FADAMA etc, there is no reason this country should be importing rice.

“What the government needs to do is to be more committed. Commitment is what is needed, not lip service. It is not that they are not budgeting for agriculture, but this money allocated is going into wrong hands”, he said.

The don noted that “the ongoing anti-corruption campaign is good but it needs to be monitored to the grassroots because we are talking about implementation. It is not the issue of budgeting but implementation; the people that are taking agric loan, are they really investing it? If they are, what happens to the harvest? Is it being retained in the country or some people are smuggling it out? All of these we need to monitor and you have to look at Nigerian borders- very porous.

They are smuggling rice that is grown with taxpayers money out of this country to neighbouring West African countries; you know the resultant effect of that- the government has released money, the investment has been carried out but there is nothing to show for it.”