Aareonakakanfo:




I'm not even interested in all these APC/PDP nonsense.All i want is true federalism or seccession

wytecat:
I'm sure Ekiti and Osun have what it takes too, and will not be left behind, other SW states especially Lagos must lift others up.

OkutaNla:
Btw, I think I'm beginning to appreciate the effect the current financial crises precipitated by the dip in crude prices is having on most states of the federation. I mean, it's triggering a paradigm shift in the thinking of state governors who formerly were over-dependent on monthly allocations from the center -- I guess they grew lazy over time. The focus is now on IGR, which stimulates creativity on the part of the governors who now have to do more to generate more and more revenue to run their states. This will definitely put them under a lot of pressure to be creative, competitive relative to their peers, and ultimately deliver the dividends of good governance.

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Same here, i think true federalism is the way to go, if that is not achievable, then secession. But my concern is leadership, after awolowo, i can't think of any visionary leader, only fashola comes close. reading about awolowo, and what he achieved without money from crude oil, I feel like slapping all our leaders, who have had access to much more money

wytecat:
I'm sure Ekiti and Osun have what it takes too, and will not be left behind, other SW states especially Lagos must lift others up.

Aareonakakanfo:




Awolowo was a gem,people like that don't come on a regular.Its like expecting to see another messi in the next 20 years.Though we might not have an Awolowo but we will surely have someone who can try. Quality leadership will definitely not be an issue.

FFKfuckedBIANCA:
If Awolowo was around in the 17/18th century Yorubaland, he would have been deified, that man is a god !!! I doubt if there would be any Yoruba leader like him in our life time

coolitempa:


There is already a white paper to that effect being worked on as we type here.....

http://dawncommission.org/

segend:


Same here, i think true federalism is the way to go, if that is not achievable, then secession. But my concern is leadership, after awolowo, i can't think of any visionary leader, only fashola comes close. reading about awolowo, and what he achieved without money from crude oil, I feel like slapping all our leaders, who have had access to much more money

Aareonakakanfo:
Another good news


Odu’a Investment records N4.29 billion turnover



•Pays N150m dividend to owner-states
Odu’a Investment Company Limited, a conglomerate owned by the five South Western states, recorded a revenue of N4.29 billion in last year, against N4.51 billion recorded in 2013 – a five percent decline.

The company however recorded N759 million profit before tax in the year under review, showing a 53 per cent increase over N495 million achieved in 2013.

Similarly, its earnings per share (EPS) also rose by 98 per cent from N0.72 in 2013 to N1.43 last year.

Given the stride recorded by the conglomerate over the last one year, the board of directors have declared a dividend of N150 million, representing 26.1 kobo per share payable to its five shareholder states of Oyo, Ondo, Ogun, Osun, and Ekiti, after non – declaration for a period of six years.

The company’s chairman, Chief Isaac Akintade, while speaking at its 33rd yearly general meeting of the shareholders, expressed delight at the performance of the conglomerate, against its relatively low performance in 2012 and 2013 financial years, due to the prevailing economic situation in the country then, assuring of a brighter outlook in the coming years.

While giving a breakdown of the company’s financials at the meeting attended by all directors as well as the Secretary to the state government from each of the owner states, the Group Managing Director, Adewale Raji said “the payment of dividend is a commitment that we vowed to maintain, considering that we have not paid dividend in the past six years.”

He maintained that the result so far had indicated that the company was gradually improving in its operations, despite the five per cent decline in its revenue.

Raji said that he was optimistic of improved growth for the company in the future, going by its 2015-2019 strategic plans.

Oyo IGR potential beyond N7bn — Adesina

September 23, 2015

Olawuwo Adesina, coordinator of the Oyo State Stakeholders’ Forum, speaks with NURUDEEN ALIMI, on the options available to the state government to maximize its Internally Generated Revenue (IGR).


As the coordinator, Oyo State Stakeholders’ Forum, can the state government generate more revenue, considering that you recently said the state short changed itself by poorly harnessing its IGR potential.

There is the need for Oyo State to develop a comprehensive IGR improvement strategy. Government must seek to broaden IGR base and bring critical innovation to the traditional sources such as taxes, fines and fees, licenses, earnings and sales, rent on government properties, interest and dividends, reimbursable, and miscellaneous as mainstay of its IGR. I fervently believe that Oyo IGR initiative should be industry driven. If Lagos State could earn close to half a trillion in IGR and Ogun State is already talking of netting N10 billion in IGR every month as from this year, Oyo State can go ahead and simulate Lagos and replicate its economic model. It is what Ogun State is doing. If Ogun can build its industrial drive on its proximity to Lagos, we can do the same.

There is no reason the state government should not expedite action and complete the inland container depot otherwise known as dry port, at Erunmu on its own and make it functional. Oyo State is one of the eight beneficiaries of this elaborate project which is capable of creating jobs in abundance and localising activities of shippers and their partners in the state. The value chain here is elaborate. We can imagine the upsurge of economic activities it will bring to the state. All these will translate into high taxes and rates. Fast tracking completion of the dry port is like bringing the Apapa Wharf or the Tincan Island Port to your backyard. Also vast natural resources waste away across the state.

The government should, as matter of urgency, conduct an inventory of raw materials including mineral deposits available in all the 33 local government areas and get investors to tap into them. I am aware the state has mineral potential that can be capitalised upon. The state government can use its nexus with the APC federal government to resuscitate the marble industry. It is a disservice to use the moribund Leyland plant as school.

The state government can begin to tap into industrialisation by getting foreign consortium to resuscitate the plants and many others that dot the state land space. The state government by now should evolve strategy to encourage the emergence of the Ogunpa/Agbeni commercial axis of Ibadan as West African market and spell out its full potential so that it can compete with Idumota in Lagos.

A deliberate government policy can achieve utmost commercial viability of the area. Perhaps I should tell you that the quantum of money circulated in the Idumota commercial precinct is much more than what the commercial banks have in their vaults. The international market in Ogbomoso is also grossly underutilised.

I am happy the governor noted sharp practices in the administration of the IGR. I will suggest government puts a ceiling of not more than 10 percent of IGR to defray operational cost. This should be accompanied by clearly spelt out indicative implementation plan, the purpose of which is to set the direction for the way forward and to guide the IGR board in its development of a detailed implementation plan.

So, what is your take on the state initiative to increase the IGR to N7 billoin monthly over the next four years?

There are two things you do when it is about to rain. You will pray that the rain tarry and you will also quicken your step. That is what Governor Abiola Ajimobi is doing right away with the issue of IGR and overall finance portfolio of Oyo State. He hinges hope on subvention and improved allocation from the federal government and at the same time, he is working assiduously to boost the IGR generation. So the governor has no option other than to pursue a re-engineering of the state economy as he has begun. He seeks to cut on expenditure by reducing number of ministries to 15 from 23. But this has effect on what is paid to political appointees and not workers whose wage bill in the last four years has increased by close to 100 percent as the governor continues to increase salaries of workers and institute welfare packages.

As a government with human face, the governor is not considering retrenching the workforce; instead government is concerned with the option of increasing revenue base of the state. Presently, Oyo State is generating an IGR of N1.2 billion and the government plans to increase it progressively to N2.2 billion by 2016, N3.6 billion by 2017, climaxing at N6.1 billion by 2019. But ideally, the government is thinking of N7.6 billion to put the state on a sound financial footing, but I still take this as the state short changing itself. The state can generate far more than this right away. The state can accrue as much as Ogun State in terms of IGR which should be around N10 billion per month. As a pace setter state Oyo should rank as one of the ten highest IGR states in the country. This is more so because IGR has become a critical fiscal enhancement tool for states in recent times amid dwindling oil revenue from the Federation Account. You are aware that federal allocations had been dwindling since 2011 leading to a worsened extent that many states found it difficult to pay their workers.

Oyo State should be able to generate revenue exceeding the allocation from the Federation Account by seeking to make Oyo State the economic hub of the nation ahead of Ogun State. The state can attract and retain spill over of economic activities from Lagos State.

Aareonakakanfo:



Ekiti people need to vote out fayose if they're really serious about development.Development is not about sharing dericas of rice and eating amala in a public canteen

FFKfuckedBIANCA:
when i red about Awolowo, i feel like shooting all the useless leaders we have now. Do you know that during his administration, civil servants in the Western region receives the highest minimum wage in the country, higher than what federal workers are given

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Keep them coming

I feel i should create a thread specifically for that but I avoid creating threads that have to with Yoruba or southwest beacuse i've never been lucky with derailers. you know them now . Its like there's a magnet that brings them to my threads

If Lagos State could earn close to half a trillion in IGR and Ogun State is already talking of netting N10 billion in IGR every month as from this year, Oyo State can go ahead and simulate Lagos and replicate its economic model. It is what Ogun State is doing. If Ogun can build its industrial drive on its proximity to Lagos, we can do the same.

Aareonakakanfo:




I feel i should create a thread specifically for that but I avoid creating threads that have to with Yoruba or southwest beacuse i've never been lucky with derailers. you know them now . Its like there's a magnet that brings them to my threads

segend:


lol. I understand jare.

Aareonakakanfo:




I feel i should create a thread specifically for that but I avoid creating threads that have to with Yoruba or southwest beacuse i've never been lucky with derailers. you know them now . Its like there's a magnet that brings them to my threads

segend:


Same here, i think true federalism is the way to go, if that is not achievable, then secession. But my concern is leadership, after awolowo, i can't think of any visionary leader, only fashola comes close. reading about awolowo, and what he achieved without money from crude oil, I feel like slapping all our leaders, who have had access to much more money

FFKfuckedBIANCA:
create it, we'l just try as much as possible to ignore those Igbos

FFKfuckedBIANCA:
create it, we'l just try as much as possible to ignore those Igbos

Aareonakakanfo:
Maybe we should just rename this thread.segend what do you think?

Aareonakakanfo:
Abeg you guys should ignore these red mud romanis.When we start responding to every one of their comments,we lose touch of the topic.This topic has nothing to do with Ibo

Aareonakakanfo:
Abeg you guys should ignore these red mud romanis.When we start responding to every one of their comments,we lose touch of the topic.This topic has nothing to do with Ibo

Aareonakakanfo:
Mimiko Unveils Shoprite Outlet, Assures Entrepreneurs




Ondo State Governor, Dr. Olusegun Mimiko

Ondo State Governor, Dr. Olusegun Mimiko, on Wednesday unveiled the Shoprite outlet in the state capital Akure, where he reiterated his administration’s commitment to providing enabling environment for small and medium businesses to thrive.

Unveiling the outlet, situated within the building of the new Akure Shopping Mall, located at the premises of the old Owena Motel Akure, the governor, promised that the mall would add value to the economic landscape of the state, stressing that it would also provide opportunity for domestic retailers to ply their trade through effective supply chain process.

He noted that the mall would create employment opportunity for the people, and assuring that its multiplier effect would boost the economy of the state.

He said “Looking forward in the next couple of weeks, the Dome will be back along this corridor and this place will be the commercial hub of sort. At the end of all these, our people will be gainfully engaged and the multiplier effect on our economy will truly be great. The excitement is not just having the Akure Mall, but about the opportunity for our local retailers to ply their trade and also about the opportunity for a supply chain that will originate from this state.”

Earlier in his speech, the Chief Executive Officer of Top Services Limited, the developer of the Mall, Mr Tokunbo Omisore appreciated Governor Mimiko for providing enabling environment for the project and also for fast-tracking every aspect of the contract agreement.

According to him, the mall will provide jobs for no fewer than 1000 indigenes of Ondo State, adding that entrepreneurs and small and medium scale businessmen would be able to showcase their products, especially farm products.

He said: “We were not disappointed at the level of preparedness by the Ondo State government for the take-off of the shopping mall. The state provided the enabling environment. I will describe Mimiko as a great city changer.”


http://www.thisdaylive.com/articles/mimiko-unveils-shoprite-outlet-assures-entrepreneurs/223442/

WIZGUY69:



I am very familiar with O'dua investment company, and I must confess, am very impressed with what they have been doing so far (they can do better though).
anytime I am in that cocoa house axis, there's this advert screen (don't know the name) at the front of the building that displays the projects OIC had embarked on. they have some hotels in Lagos too. but most of there projects is based in Ibadan.
but if I may ask, who's the brain behind this OIC