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Published On: Fri, Dec 19th, 2014

States economy will collapse in 3 months if fall in oil prices persist – Aliyu

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Dr. Mu’azu Babangida AliyuFrom Yakubu Mustapha, Minna

States of the federation will collapse economically if the decline in the price of crude oil in the global market continues for another three months

Niger state Governor, Dr. Mu’azu Babangida Aliyu gave the warning on Wednesday, in Minna.

The chairman of the Northern states Governors Forum and Niger state governor noted that at the moment the income of the states from the Federation Account has dropped by between 25% and 50% sending danger signals that the problem may lead to most states not being able to pay salaries and perform other statutory responsibilities.

Governor Aliyu, who made the disclosure while speaking at the Inauguration of the Niger state chapter’s executive of the Quintessential Business Women Association, explained that even now some states are no longer paying workers’ salaries.

He emphasized the need for the country to look inwards and diversify its economy by encouraging Nigerians to go into farming and exploration of solid minerals.

“We need to expose ourselves to what is going on globally and take action that will reduce the present pains being suffered by the people”.

Aliyu said the present administration in the Niger state will continue to create conducive environment for the private sector to operate, adding that government has also been encouraging women to be part of the diversification of the state economy especially with the establishment of Shea butter producing factories in each senatorial district of the state and the plan to provide such in each local government area.

He announced a donation of 5 hectares of land on which a secretariat and factory by the organization will be built. The Governor also donated N5m to the association.

The state coordinator of the body Mrs. Salome Ndakotsu said the association plans to empower 1000 women in each of the 25 local government areas of the state even as plans have been concluded to train youths across the state.

Ndakotsu said over 200 cooperative societies have already been registered by the association.

 

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