Dr Oyedepo has introduced an added incentive to students who desire to study agriculture or agriculture related courses in the university which was established in 2011. This is also to encourage students pick interest in agriculture in a bid by the institution to take Nigerians back to agriculture and to ensure that the nation feeds herself.
Henceforth Courses Including Crop Science, Animal Science, Agric Extension & Rural Development, Agric Economics, Agribusiness Management, Environmental & Natural Resource Economics, Aquaculture and Fisheries Management, Tourism and Recreation, Horticulture and Landscape management would now be run free of charge.
Landmark University is one of the highest scholarship awarding universities among private universities in Nigeria and is rated among the 10 most beautiful universities in Nigeria in less than 10 years of establishment.
The university is one of the best of the more than 50 private universities in Nigeria.
The New Yam Festival the traditional culture of Igbo land was showcased on Sunday at Amen Centre, Abesan Lagos. The event which is designed to bring the igbo community together withing Abesan, Ipaja, Command, Ayobo and Shagari Estate was a huge success.
Though the maiden or the first edition, the event brought dignitaries such as the Mosan/Okunola LCDA chairperson, Eze Igbo , President General Ohaneze ndi Igbo Lagos and so many others.
Speaking during the occasion, the Chairman of Ohaneze ndi Igbo (Abesan Chapter ) Moses Nwokoro said “we believe that igbo culture shouldn’t die, we are using this opportunity to tell our children born outside igbo land what is applicable in igbo cultural setting so that they would be in tune with the cultural realities. Also we want to ensure that the language is spoken by the children . “
” Not only doing the New Yam festival, the Ohaneze Abesan Chapter can be described as more of interventionist group rather than cultural group. We intervene when are member is either in distress, trouble or harrassed. We pull resources to ensure that issues like that is sorted out. We have assisted people in accomodations challanges, medical problems or even harassment from the touts which is a daily occurrence in some parts of Lagos”, Nwokoro added.
The chairman used the opportunity to ask the igbo community who are not yet a card carrying members should endeavor to be part of the association so that they can enjoy thee benefits.
The new yam festival is away of thanking good for bountiful harvest for the year and as an association which is made up of christians majorly, they thanked God .
Many members were pleased with the outing. Speaking on this, Jude Agada, a guest said “we are very excited about this and we hope that this continues. This is the first time we have this in this area and I commend the chairman.”
Speaking in line with Jude ,Emeka Ndukwu,the secretary of the Ohaneze Abesan Chapter added”it hasn’t been easy planning this,we just had few weeks to plan this due to restriction imposed on Covid 19 which is good for our safety. We thank those that graced the occasion and those that contributed also.
Onyekachi Egwim, an executive remarked that “it is a thing of joy that we had a turn out and it’s a pure demonstration of Igbo community commitment in seeing that the Igbo culture survives. Here, we strongly believe in “Nwanne di Na Mba. All igbo are one be it from any state or political region. We also thank those that came , we appreciate the contributions and donations. “
Moses Nwokoro, the current chairman of Ohaneze Abesan Chapter, though less than a year in office can be described as energetic and focused president, poised to bring innovations and development to the association which is in line with the Secretariat at Enugu State. He believes in the concept of anything worth doing , is worth doing well and the first New yam festival is a testament to his leadership and team work abilities.
Anthony Emeka Nwosu
“we believe that igbo culture shouldn’t die, we are using this opportunity to tell our children born outside igbo land what is applicable in igbo cultural setting so that they would be in tune with the cultural realities. Also we want to ensure that the language is spoken by the children . “
The Minister of Information and Culture, Alhaji Lai Mohammed, has said Nigeria will leverage tourism in its efforts to take development to the grassroots.
The Minister stated this in a statement issued in Lagos on Sunday to mark the 2020 World Tourism Day, which has the theme: ”Tourism and Rural Development”.
He said the theme, in the words of the United Nations World Tourism Organization (UNWTO), celebrates tourism’s unique ability to drive economic development and provide opportunities outside of big cities, including in those communities that would otherwise be left behind.
”Tourism plays an important role in preserving and promoting culture and heritage all around the world. This is why we are leveraging on the sector to take development to the grassroots by ensuring that local communities own and benefit from the cultural heritage and the tourist attractions in their domain,” Alhaji Mohammed said.
He said the plan by the Federal Government to establish community museums is part of efforts to ensure that local communities benefit from tourism, thus ensuring that the sector contributes to rural development.
The Minister said the occasion of the 2020 World Tourism Day presents the opportunity for stakeholders to reflect on the impact of the Covid-19 global pandemic, which has hit the sector hard and also stepped down the national celebration of the day.
He said despite the negative impact of Covid-19 on the sector, it was a mark of its resilience that governments around the world still look to the sector to drive recovery as a leading employer and economic pillar in cities and the rural communities.
”It is globally recognized that tourism empowers rural communities and provides employment mostly for women and youth. It plays an important role in diversifying the rural economy and its growth, thereby contributing to the sustainability of the population and the economy of the areas.
”Tourism therefore helps rural communities make the transition from agrarian to diversified and sustainable economies,” Alhaji Mohammed said.
He said rural tourism perfectly suits the trend of most modern travellers seeking authentic and unique experiences, local lifestyles and the need to experience natural and unspoiled landscapes.
”Rurality is the central and unique selling point in the rural tourism package, and apart from being located in rural areas, small in scale, traditional in character and slowly growing and controlled by the local people; rural tourism is regarded as tourism in the countryside, which embraces the rural environment. Most importantly, rural tourism aims to include and benefit rural communities, while preserving their environmental and cultural assets,” the Minister said.
He said in line with the comment made by the Secretary General of the UNWTO, that the current Covid-19 crisis is an opportunity for member states to rethink the tourism sector and its contribution to the people and planet, Nigeria set up a committee to look at the impact of Covid-19 on the Creative Industry and Tourism, with a view to finding ways to catalyze the growth of the tourism sector in particular and the Creative Industry in general.
Alhaji Mohammed expressed the hope that all the relevant sectors will fully integrate and promote all the recovery recommendations and deliverables developed to support the recovery efforts.
Segun Adeyemi Special Assistant To The President (Media) Office of the Minister of Information and Culture Lagos
The Honourable Minister, Ministry of Niger Delta Affairs, Senator Godswill Akpabio, CON, says that the ministry is committed to harmonizing the Niger Delta Regional Development Master Plan with the Niger Delta Action Plan to produce one regional road map for development in Nigeria’s oil-rich region.
Akpabio, who spoke at the new Niger Delta Development Commission (NDDC), Permanent Headquarters at the Eastern By-Pass, Port Harcourt as part of the activities during his working visit to the Niger Delta, harped on the need for collaboration and synergy in the effort to develop the Niger Delta region.
The visiting team was received by the NDDC Acting Managing Director, Professor Kemebradikumo Pondei, in company of the Acting Executive Director, Finance and Administration, Mr. Effiong Akwa, a member of the Interim Management Committee, IMC, Mrs Caroline Nagbo and directors of the Commission.
The Minister regretted that the NDDC had not lived up to expectations, noting that “Whether we like it or not, this child (NDDC) has not grown well in 19 years. It could have done better. Perhaps, we lost track of the developmental plan of the Niger Delta region.”
He, however, congratulated the NDDC Acting Managing Director and members of the IMC for doing a good job in delivering the new office complex, which he described as “a good story for the NDDC.”
“The most thrilling thing for me is that change has come to the NDDC. I must commend the management and staff of the NDDC for making this possible. Despite the criticisms and distractions, some positive change has taken place in the Commission and I like to see progress because I am a development-oriented politician.”Akpabio added.
While still speaking, the Minister also noted that Prof Pondei should be proud to be the first Chief Executive Officer of the NDDC to move into a new edifice. “The feat could not have been achieved without the cooperation of members of the IMC and the Ministry of the Niger Delta Affairs.
The Permanent Secretary, Ministry of Niger Delta Affairs, Babayo Ardo, in his remarks, said the site inspection embarked by the Minister is to appraise the progress of work done and also to give appropriate attention to areas where the Ministry with other development partners would intervene to ensure that the project is completed for the benefit of the people in the region.
Dr. Ardo said that, NDDC is being repositioned and refocused on the mandate of the Ministry with the Support of President Muhammadu Buhari for effective service delivery. Therefore, it is important to synergise the master plan and actions with all development partners.
Speaking earlier, the NDDC Chief Executive Officer said that the new headquarters would add value to the work of the NDDC towards meeting its mandate of facilitating the rapid development of the Niger Delta region.
In his own remarks, the NDDC Director of Project Monitoring and Supervision, Engr. Tonye George, said that he felt fulfilled that the project, which started in 1993 during the days of the Oil Minerals Producing Areas Development Commission, OMPADEC, was virtually completed.
He said that the IMC was able to push the project to the level where the contractor was now putting finishing touches because of the active support of the Minister of Niger Delta Affairs, noting: “As we speak, members of the IMC now work from the new headquarters building.”
The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta has said that the Commission will continue to promote and facilitate expansion of robust broadband/Information and Communication Technology (ICT) infrastructure across the country for the rapid development of the nation’s digital economy.
Danbatta gave the assurance in a presentation titled “Communication Technology for Service Delivery in Health, Education, Tourism, the Creative Industry and Agriculture” delivered during the first virtual and sixth edition of Information Communications Technology and Telecommunications Conference and Exhibition (ICTEL) EXPO 2020.
He said the Commission, not only successfully achieved but surpassed the 30 per cent broadband penetration target in 2018. Danabatta observed that through various policy initiatives, broadband penetration has further increased to 42.02 per cent as of July, 2020, noting that this has laid a solid foundation to drive the national efforts at achieving the new 70 per cent broadband penetration target set in the Nigeria National Broadband Plan (NNBP) 2020-2025.
Represented by the Director, Consumer Affairs Bureau, NCC, Efosa Idehen, Danbatta said in line with this commitment, the Commission has commenced the review of the framework for engaging infrastructure companies to cascade fibre optic deployment to the hinterlands of Nigeria to ensure pervasive access to broadband services in the country.
He stated that with the support of the Federal Government, through the Federal Ministry of Communications and Digital Economy, NCC is resolving the perennial problem of high cost of Right of Way (RoW) with the support of the Nigerian Governors Forum (NGF) to hasten ICT infrastructure that will enable socio-economic activities across various sectors.
According to him, as the world is becoming increasingly digitised; there will be no sector or facet of human life where ICT will not be required for optimal service delivery and improved conditions of living for the citizens.
With regard to the health sector, Danbatta said ICT is playing a very important role in the manner health services are now delivered, adding that the new Internet speed and low latency of 5G technology are expected to further enhance the possibilities of telemedicine and remote surgery.
Similarly, the EVC said the educational sector has also greatly soared on the wings of ICT, as there has been a surge in online learning in many institutions around the globe due to the raging COVID-19 pandemic, while illustrating the symbiotic relationship between ICT and educational sectors.
Danbatta said “the relationship between ICT and the educational sector has been mutually beneficial. He assured the stakeholders that the advent of Artificial Intelligence (AI) is expected to enhance the capabilities of the educational sector even further.”
According to him, the agricultural sector has also benefitted from ICT, as several agro-based apps have been designed to ensure that stakeholders in the sector are able to provide and improve on essential agro-services. These developments have helped to boost food production and security, just as a lot of digitisation is also holding sway in the creative industry, enhancing its growth thereby enabling job creation and greater contribution to the Gross Domestic product (GDP).
· arrest twelve (12) for various examination offences
The Nigeria Police Force has arrested twelve (12) suspects for their involvement in various examination malpractices in the just concluded West African Senior School Certificate Examination (WASSCE) in some States across the country. The arrest of the suspects is consequent upon the renewed partnership between the Exam body and the Police aimed at ensuring and promoting the integrity of examination processes in the country.
Investigations by Police operatives revealed that the suspects used their privileged positions as invigilators, supervisors and school functionaries during the 2020 WASSCE to conspire, perpetrate and encourage varying degrees of examination malpractices, including online transmission of examination questions and answers on various social media platforms.
The suspects namely; Daye West ‘m’ 52years, Shalom Essien ‘m’ 39yrs, Anyanwu Precious ‘f’ 27yrs, Hanson Beloved ‘m’ 38yrs, Ali Musa ‘m’ 46years, Umar Mohammed ‘m’ 50yrs, Isa Abdullahi Arikya ‘m’ 39years, Hamisu Haussaini Abdullahi ‘m’ 33years, Maharazu Sabo ‘m’ 41yrs, Yusuf .M. Mailafiya ‘m’ 55years, Sule Bukata Garba ‘m’ 40yrs, Wudana K. Solomon ‘m’ 30years, were arrested in Kano, Rivers, Nasarawa and Bauchi States respectively.
The Inspector General of Police, IGP M.A Adamu, NPM, mni has assured the examination body of continuous support to discourage examination malpractices and bring perpetrators to book. He also enjoins parents, guardians, students and all other stakeholders in the examination processes to cooperate with the police and the exam body towards bringing an end to examination malpractice in the country.
DCP FRANK MBA FORCE PUBLIC RELATIONS OFFICER FORCE HEADQUARTERS ABUJA
“Some weeks back, I made a rebuttal about the erroneous and mischievous rants of some of my (our) misinformed NigerDelta brothers. First and foremost let me tell you all a little story for the avoidance of doubt, I’m from the Agbo ethnic group in Cross River State, we are located in Abi Local Government Area which is a coastal settlement and unarguably the smallest LGA in Cross River State in terms of landmass and to a large extent population slightly a few thousands ahead of Bakassi LGA. My fore bearers both on my maternal and paternal side were given the opportunity to serve in then Eastern Nigeria regional government, My grand uncle Dr. S E Imoke of blessed memory was an all influential cabinet minister in the regime of M I Okpara he held the Trade portfolio and was also Finance minister at a time until the unfortunate incident of January 1966 he was the longest serving Education minister his son the urbane Liyel Imoke is the immediate past Governor of our state “Cross River”,during the outbreak of the War he was the Biafran Commissioner for Refugees and Humanitarian affairs.
Aside SE one of my maternal uncles also served as Permanent Secretary in the ministry of health at Enugu, My maternal grand father was also a frontline member of the Eastern Nigeria regional house of Chiefs alongside other minority chiefs like Chief Offem of Ugep,Ndoma-Egba of Ikom amongst others,the Chairman of the very powerful and influential House of Chiefs was Chief Nyong Essien, OBE an Ibibio High chief of a not so prominent chiefdom “not the Obi of Onitsha nor the Igwe of any other powerful Igbo city”.
Outside my family circles, another great Cross Riverian MT Mbu was nominated a Federal Minister of Transport and Navy by the Igbo controlled NCNC,it’s on record that Mbu was Nigeria’s first Ambassador to the UK, UN, and US he is from Boki in Cross River state, Boki is another minority ethnic group just like my native Agboland, the Igbo’s gave him the opportunity to excel ahead of their own worthy sons at that time, he is the father to Senator. MT Mbu jr, another person who is noteworthy is the late Chief. Michael Eta-Ogon who was the Administrator of the oil rich Port Harcourt province in the first republic he is also from the same Boki with Mbu, Thomas Weir Ikpeme an Efik man from Odukpani in my native Cross River was the longest serving Permanent Secretary in the Eastern Regional Ministry of Education, the key point is that the Igbo’s were comfortable with us “the minorities” that was why they entrusted education solely in our hands, not only education but other critical areas like Public Works and Transport etc. NU Akpan an Ibibio man from Akwa Ibom state was the technocrat behind the eastern regional public service, he was the Secretary to the regional government, Anwana Esin a man from Oron in Akwa Ibom state, Oron is a distinct and small riverine ethnic group was the Eastern Regional Minister of Local government, so also was Ibanga Akpabio ,an Annang man from Ukana in present day Akwa Ibom state was the regional minister of Internal Affairs, the former Governor of Akwa Ibom state Godswill Akpabio is his nephew, they were other high ranking cabinet ministers of minority origin like one of our family good friends, HRH. Amanyanabo EP Okoya,Agada III the Ibenanowei of Ekpetiama in Bayelsa State,Chief. Erekosinma of Rivers and a whole lot of others who are too numerous to mention.During the secessionist struggle, An Ogoni from Rivers state, Chief Ignatius Kogbara was Biafra’s Ambassador to Britain.
My dad’s friend Chief. Lekam Okoi ,from Idomi in present day Yakurr LGA of Cross River state was one of Ojukwu’s trusted drivers, he is today a successful lawyer and a former commissioner in the Federal Character Commission, Capt.Akpet a minority from Cross River was also Ojukwu’s dependable aide on intelligence. Secondly for the avoidance of doubt, aside these political appointments, our people enjoyed immense goodwill from the Igbo dominated region by way of social security, my dad’s immediate elder brother received a scholarship from the regional government that enabled him study for a PhD in soil science,he is the first man “arguably” in Africa to obtain a doctorate in Soil science, I have friends across the Niger Delta whose parents, uncles, aunties and relatives also benefited from the benevolence of the regional government. It is also a known fact that our Niger Delta region received it’s last major facelift in terms of infrastructure when we were under the Eastern region. Till the abolition of the regional system of government the Eastern region was the most united region, they was never a recorded case of ethnic skirmish or BLOOD letting between the Igbo’s and other minority groups,during the pogrom of 1966 we all carried the same cross to “Golgotha”, both Igbo’s and eastern minorities where maimed in their thousands across Northern Nigeria by the blood thirsty HausaFulani/Northern folks without blinking an eye it doesn’t really matter if you were Igbo, Ijaw, Efik or a miniature Agbo person. I never really wanted to bore you with reading this lengthy essay but it’s my moral responsibility to tell the truth at all times, I was thought by my fore bearers never to distort history and to always separate facts from fictions. If we were not marginalized by the Igbo’s during the “analogue” age, how then can the Igbo’s marginalized us in this digital age and time?, the fear, misgivings and misconceptions of Igbo dominance by most of my (our) NigerDelta people who are poor students of history are unconscionable and unfounded, moreover there is no family in our region without Igbo relatives and blood so the cry is a much ado about nothing….“Man must know thyself” and “To thyself be true”. May God help us all.
With the impact of COVID-19 on education sector, the Federal Government has said that it is considering pursuing a new National Policy on zero rating on educational websites which would allow the consumption of contents without charges to normal data plan.
The Policy, according to the Minister of Communications and Digital Economy, Dr Isa Ali Ibrahim Pantami, FNCS, FBCS, FIIM while delivering his key note address at a Webinar organised by Lead Inspire Network with the theme: “Enhancing Virtual Learning and the Challenges of Internet Penetration in Nigeria”, would contain appropriate incentives for mobile network operators and internet service providers.
Speaking through National Information Technology Development Agency’s Director of Information Technology Infrastructure Solutions, Dr Usman Gambo Abdullahi, the minister agreed that sufficient access to the internet is essential for the development of an information society adding that the government is working to increase the broadband penetration from its current level.
“Currently, broadband penetration stands at 40.18 percent and the plan is to make it 70 percent by 2025. This is the target we set for ourselves in the Nigerian National Broadband Plan. This will be of great benefits to the education sector. We would focus more on enabling appropriate contents, infrastructure, capabilities for learning and teaching”, he said.
While assuring that the ministry would deepen broadband penetration through creation of access to public internet service, the minister acknowledged that agencies under his supervision such as NITDA, NCC/USPF, in line with their mandates, have made giant strides in this regard.
He stated that “we have been able to establish Digital Centres, Capacity Training Centres, e-Accessibility Centres, School Knowledge Centres, e-Libraries and ICT Hubs and Innovation Parks across the country. In just one year, we have deployed over 200 of these across the country. These centres mostly situated in rural areas are equipped with at least 25 computers, backup power supply and free internet service. In addition to providing free internet services, the centres also serve as innovation hubs and learning centres for the local community.”
The minister said that NITDA has issued Framework and Guidelines for Public Internet Access to regulate most of the approaches government is considering to deepen internet penetration and bridge the digital divide.
The Executive Vice Chairman, Nigerian Communications Commission who was represented by a Director in the Commission, Dr Henry Nkemadu stated that the Pandemic has shifted education to a new level that requires new paradigm.
While listing the challenges of low level of penetration to include the high cost of Right of Way, multiple taxation, operating expenses and economic downturn, he said the minister is working assiduously to reduce some of this bottlenecks.
One of the organisers of the webinar and co-founder of Lead Inspire Network Sope Afolayan said the event was put together to further the discussion on how to provide equal access to children of the ‘have’ and ‘have not’ and redirect the thinking of policy makers on the need to see acquisition of education beyond four walls of the classroom.
My son came back from school one day looking obviously frustrated. Why? There is a young Nigerian lady who joined their school recently with other Nigerians in South Africa.
Since joining the school and discovering that my son is Nigerian but hardly speaks any Nigerian language, she has become a terror to his flesh. I told him not to bother and ignore her. He made friends with most of them and will always invite them over to the house for the weekend.
Now this girl called Funmi won’t let my son have some peace. She will always call him ” Omo Igbo”. Now all the school know him as ” Omo Igbo”.
My son is very proud of his Igbo and Nigerian heritage but doesn’t like being reduced to a ” tribal king”. So on this day he returns from school and drops down his bag and with the junior brother and sisters they pounced on me wanting to know what ” Omo Igbo” means.
Well I laughed and then told them it simply means ” an Igbo person or child of an Igbo”. They were shocked when they realised that it was nothing but wondered why Funmi screams that across the school each time she comes across my son.
Again I shared my experience when on my first day in the university my prospective roommate who is now a judge in his state, asked me what is the meaning of ” onye Hausa”. I explained it means a Hausa person. He was shocked as he had grown to believe it was an insulting ascription.
I am a fan of multiculturalism. Growing up I have always wanted to meet people from other places. I hated geography then but bring human or social geography you will see me come alive! Physical geography bored me like hell then.
I thank God for that dream fulfilled as I have literally met many people from diverse cultural background due to my work. It is the same orientation I wish for my children hence my choice of schools and education.
So after explaining the meaning of ” Omo Igbo” to their satisfaction, my daughter asked so ” Omo what is Funmi?” So I said ” Omo Yoruba” but you can also call her ” Omo agege, Omo oshodi, Omo eko, Omo Yaba, Omo ijebu, Omo ikoyi etc.”. You can imagine their countenances lifted. I saw mischief on their faces!!
Armed with that they left for school the next day. Upon arrival and seeing Funmi being dropped off and approaching the rest to head into the school assembly, my sons and daughters chorused out in unison; ” Omo eko, Omo Yaba, Omo oshodi etc” . Apparently they invented their own additional Omo whatever”
Their friends joined them and it was all ” Omo that and that”. Funmi was disconcerted and in a state of shock.
Now all became friends and graduated and moved on to different universities. Now they call each other ” Omo their university names”.
We get into fights by ignorance. We fight when we fail to build bridges. We fight mostly over nothing. We fight when we fail to build a zone of shared interests.
It is not kumbaya or huray for these states in red. In short they have to start asking critical questions on why they are in red! Ability to manage an economy and debt efficiently should be the strong basis to push for electoral position, this is a global practice but in Nigeria it is a different kettle of fish. Here to be elected , the ability to align with religious, political and possibly emotional ideosyncracies and similitudes of people are basically what you need to get the political office not intellectual sagacity, capacity and dexterity to deliver.
Recently , we saw tables of states across the nation that re doing well and in dire need. We have seen that states like Rivers State , Anambra states and many states in Northern region have demonstrated economic resilience and attitude to shore up their capital and their debt profile in good books, but unfortunately, the south west states have about 80% of their states in red! Even Lagos the alleged centre of excellence. What the economic watchers are asking what happened to the debt management profile, what happened to the debt portfolio and what happened to the capacity to deliver life changing infrastructure that can turn around the states for good.
I know that Nigerians have the urge and the will to blame the federal government for their inability to scale but in this case, the adminstration of Buhari must be exonerated as a matter of fact ! In short this adminstration have shown that they have the capacity to allow the states to thrive and this is seen by various projects around such as the ongoing Niger Bridge, Lagos Ibadan freeway, Rails etc !
But the big questions are what are the state governors doing with their funds? Who is overseeing these funds ? Why are they in deficit?
One thing that this table has shown is that many of the states in red has the inability to be self sustaining or in dire need of salvage. Failure to do so would amount to insolvency. If the state were to be organisations, liquidation and foreclosure would set in. With thee figures we have, what this implies is simple, the managers of these political entities (states ) don’t have what it takes or might have what it takes it lack the political balls to change the narrative.
Yes,debt is good in economics but inability to sustain and maintain it is worrisome. A trend that we are seeing many states in South West and many other states. Majority of the states in the list should sit back and have a review what they are doing right or wrong. A moment of smelling the coffee and also a moment of truth. We can’t blame it all on Covid-19,this tool years to get to this point !
Economics term it Debt to GDP ratio. The higher the number of debts a state encounters this affects the GDP of the states. The debt-to-GDP ratio are associated with insignificant effects on economic growth. However, as government as debt rises, the effect on economic growth diminishes rapidly and the growth impacts become negative.
According to Cristina Westphal, “the growth rate of gdp per capita, k = 1 or 5 (three different measures are used in the empirical estimation : annual growth rate git +1 ; 5-year cumulative overlapping growth rate git/t +5, where t takes annual values ; and 5-year cumulative non-overlapping growth rate git +5, where t takes the values at the start of each half-decade) .”
” High public debt can negatively affect capital stock accumulation and economic growth via heightened long-term interest rates, higher distortionary tax rates, inflation, and a general constraint on countercyclical fiscal policies, which may lead to increased volatility and lower growth rates” Veronica De Rugy opined in her postulation on her work “Debt and Growth: A Decade of Studies.”
The need to review the recurrent expenditures of these states in red, shore up internal generated revenue (IGR) not by high taxation,going through the route of high taxation would make corporate organisations leave to a tax haven and trust me ,many states like Anambra and North are granting tax havens to organisations to establish and leveraging on technology especially ICT,they can have their services and solutions in any part of the nation,so throwing up taxing is out of it as a way to shore up IGR! Reduce Government spending, reduce recurrent expenditures, go into public private partnership (PPP) or concession of some key infrastructure.
High marginal tax rates can discourage work, saving, investment, and innovation, while specific tax preferences can affect the allocation of economic resources. Going via tax road to shore up debt would be inimical for many of the states in red. Many businesses go bankrupt, because they can’t afford to operate after government takes its cut. Other businesses flee the country, to escape the high taxes. And still other businesses must cut their payrolls to stay within their incomes. The result in each case is the loss of jobs those businesses provided in the economy.
What do the states got to do? They must basically reevaluate their economic policies and standing ,create an enabling environment for businesses to thrive and also introduce ways to support SME and new businesses . These new business would pay tax after a given tax holiday. Most importantly,identify key projects not elephant projects. A state like Abia has no need building an airport ,becuse the state uses Imo Airport which is at Okpala a boundary town to Abia state and about 18 minutes drive to the economic hub of the state Aba and about 24 minutes drive to the capital , Umuahia. So why build airport when you can build fantastic roads in Aba and encourage the Alaoji power plant so that the manufacturers can have a robust environment to thrive and new businesses grow, this would translate in payment of duties, levies and whatever tax.
As it stands now, many of these states must start looking at the next level of economic emancipation. As it stand now,they are in economic woods and the need to have an economic sounded individuals and team to pilot the states becomes more imperative now that the cost of crude oil is dwindling.
