Osagie Ize-Iyamu, a People’s Democratic Party (PDP) aspirant in the next September governorship election in Edo State on Monday alleged that the Adams Oshiomhole-led All Progressives Congress (APC) administration had in the past seven and half years received over a trillion naira as revenue.
Ize-Iyamu, who spoke at a town hall meeting with the theme, “Edo State Economy: The Way Out,” said the amount was received from the federation account and the internally generated revenue (IGR).
Ize-Iyamu noted that the huge revenue had unfortunately not been used to grow the economic base of the state but squandered on highly inflated projects that were not evenly distributed across the state.
He alleged that the money was restricted to one or two sectors to the detriment of other critical areas, noting that the twin evil of poverty and unemployment were not tackled.
The PDP governorship aspirant noted that sectors like agriculture, industry, tourism, sports, housing and solid minerals were ignored, while existing factories like Bendel Brewery, Edo Line, Edo Courier, Edo Hotel and Bendel Insurance had been allowed to collapse.
He suggested that any government that decide to ignore industry, agriculture, tourism, sports, solid minerals, among others, cannot be seriously concerned about the economy of the state.
He also alleged that the present APC government in the state had not leveraged the presence of Nigerian Petroleum Development Corporation (NPDC) and Pan Ocean in the state to influence investments, development or appointments of Edo indigenes.
He however urged state governments to reach out to financial institutions like LAPO MFB to offer financial assistance to small traders and market women through micro finance scheme.
The PDP governorship aspirant opined that government funds could be used to assist the vulnerable and small-scale traders, but in a manner that was sustainable and fair and not donating government funds to leaders or groups.
He said such money given to reputable financial institutions to disburse as revolving loans to those in need was more meaningful and beneficial to the economy of the state.
