Home News Ekiti Has Higher GDP Than Gambia, Cape Verde, Seychelles – Osinbajo
News

Ekiti Has Higher GDP Than Gambia, Cape Verde, Seychelles – Osinbajo

Share
Ekiti Has Higher GDP Than Gambia, Cape Verde, Seychelles - Osinbajo | Daily Report Nigeria
Share
Vice-President Yemi Osinbajo has revealed Ekiti state has a higher gross domestic product (GDP) than some countries.

The vice president urged that states in Nigeria “must think like sovereign nations” to improve the livelihood of their residents.

Osinbajo who stated this at the Fountain Summit held in Ekiti on Thursday, said revenues from federal allocations can “provide infrastructure and services to the communities” but added that “the size of the sum and the quantum of opportunities available for the populace” depends on how well states can attract investment.

Also Read:How Obasanjo Silenced Every Contender To Anoint Yar’Adua as PDP Presidential Candidate; Ken Nnamani

ATTENTION: Click HERE to join our WhatsApp group and receive News updates directly on your WhatsApp!

“The economy of the subnational is a peculiar animal. A state within the federation is not a nation, but it must behave like a nation. It derives some resources from the federal pool and generates some income,” the vice-president said.

“The sum of those will provide infrastructure and services to the communities. But the size of the sum and the quantum of opportunities available for the populace will depend on how the state enables local and external investors — small and large — to put their resources into businesses in the state.

“Two Saturdays ago, I represented Mr President at the swearing-in ceremony of the new president of the Sao Tome and the Principe Republic. As I sat in that well-appointed hall and took in the solemn grandeur of the oath-taking of the new democratically elected president, I reflected. Here was a country whose GDP is $472 million and it’s a nation.

Also Read: There is No Bad Blood Between Tinubu, Osinbajo – Buharis Aide

“It has one vote in the United Nations just as we have. Ekiti state has a GDP of $2.8 billion – five times the GDP of the nation of Sao Tome and Principe but it’s not just Sao Tome and Principe.

“Ekiti’s GDP is higher than that of the nation of Gambia. Gambia has a GDP of $1.9 billion and also a higher GDP than that of Cape Verde with a GDP of $1.7 billion or Seychelles, the lovely tourist destination which has just $1.1 billion.

“Ekiti’s GDP is the same as the GDP of Liberia which just has $2.95 billion and we’re talking about Ekiti state now, we’re not even talking about Lagos.

“The attractiveness of the state to commerce is a radical issue. The very lives and livelihood of the people within the borders of the state depend on it. Nigeria’s subnational is indeed a peculiar animal. There has to be a collective change of mindset. There’s a need for a subnational to think like a sovereign state. You have bigger GDP and even more revenues than many nations.”

“I think the surest way forward is to deepen investments in the niche areas. We have already noted the enormous potential in agriculture and dairy. But clearly, the way of the future, especially for the huge population of young men and women seeking good-paying jobs, is technology. Clearly, the future of the fast-growing economy is in the knowledge economy. Every day we are beginning to see the transition.”

Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles
Appeal Court Did Not Acquit Nnamdi Kanu – FG
News

Insecurity in Southeast: Nnamdi Kanu Seeks EU, US Probe Ahead of Trial

Nnamdi Kanu urges EU, US to probe state-sponsored insecurity in Southeast Nigeria....

Reactions As Wizkid's Son Snubs Peller's Link Up Request | Daily Report Nigeria
News

Reactions As Wizkid’s Son Snubs Peller’s Link Up Request

Controversial Nigerian streamer, Peller has reacted after being snubbed by music superstar,...

EFCC to Probe Kwankwanso, Fayose, Odili, Sylva, 9 Other Ex-Govs For N853.8bn Fraud
News

CBEX: EFCC Launches Manhunt For Promoters

The efcc has launched a manhunt for the operators and promoters of...

Local Government Bans Cutlasses, Sharp Objects In Yobe | Daily Report Nigeria
News

Local Government Bans Cutlasses, Sharp Objects In Yobe

A local government in Yobe state has banned the possession of Sharp...