Economy: How Gov. Oborevwori Can Achieve More- Ojakovo, Delta State CIBN Boss
As Delta State Governor, Rt. Hon. Sheriff Oborevwori marked one year in office recently, a thoroughbred professional in his own right, the Chairman of the Chartered Institute of Bankers (CIBN), Delta State branch, Charles Ositadinma Ojakovo Esq, HCIB, FICMC spoke from a bankers’ perspective, providing advice on the financial aspects of governance for the greater realization of the MORE Agenda. Excerpts…
Mr. Charles Ositadinma Ojakovo Esq. HCIB, FICMC
QUESTIONS & ANSWER:
What is your assessment of the Oborevwori administration after 365 days?
I wish to congratulate His Excellency. He has started very well and showing capacity with landmark projects in Warri and it’s environ and across Delta State. However, a year in office is too short to rate His Excellency because there are so much to do in four years. My advice is for His Excellency to look more into areas such as entrepreneurship, agriculture and power, the resuscitation of the Oghara Power Plant at this time should be a top consideration. This is because when you are able to put food on our table and there is access to power and so on, you must have done alot. I can recollect Gov. Obaseki making a presentation on the power sector, where he did mention that Edo and Delta states can come together in a collaboration to take over BEDC, if that is possible. I say it is possible because Governor Oborevwori is a performing governor as his first year in office has clearly shown, all because he was prepared for governance, in addition to personal traits such as being a God-fearing person with a listening ear. He has also appointed the best technocrats to help him realize the MORE Agenda, notably the SSG, who has shown capacity as the engine room of his administration.
What about the agric sector you talked about?
In this regard, I urge government to establish farm settlements. Well secured farm settlements where they can zero-in on crops like cassava, as well as cash crops such as palm oil, among others will provide revenue and foreign exchange outside what is derivable from FAAC. So these farm settlements are very key to the economic well-being of the state. Recall that anytime there is no usual consignment of foodstuff and consumables from the North to the state, prices of food hits the roof top. We need to make farm settlements part of our frontline projects. We also need to look at other opportunities that would provide jobs for teeming number of youths. In this area, we have to look at power because if our people are able to have access to power, they will do wonders. Again, we have to look back at what happened to the industrial parks, the Warri Industrial Park started by the Uduaghan administration. I say this because we all saw what happened at the Lekki Free Trade Zone and what that has done to the economy of Lagos State. Right now, in terms of GDP, Delta State is about number 5 or 6, so we need to see how we can put all the above into account, so as to further grow our economy. The seaports are also there. There are federal ports but we can partner with the FG. Some of these ports are just for them to be dredged. The partnership by the state is important because if you must have an industrial park, it is needed that one of these ports should be operational. At the end it will be to the advantage of Delta State in terms of revenue generation. I would say that in terms of security, which is needed for investments to thrive, the Governor has done well. I congratulate him as we look forward to a more prosperous economy.
What areas should he pay the most attention in his Realistic Reform Agenda?
Let me reiterate that power and agriculture are key. Let us look at how cost-efficient the resuscitation of the Oghara Power Plant is going to be. Oil will always be there but greater attention to agriculture will be a great compliment that will bring enhanced prosperity for Deltans.
The government has observed that there is lesser value for revenue due to inflationary trend and this has affected value of contracts. As an erudite banker, what is your advice?
Yes it is true that the inflation which is at about 38 per cent has grossly affected the value of contracts such that some of them may have to undergo a review. But we can make the most of the situation by insisting that contractors keep to the duration of their contracts. It’s also very important that firms with financial capacity and expertise are awarded contracts, not portfolio carrying contractors. Contractors must not be allowed to take advantage of the situation, while only those with genuine cases should be attended to.
