Delta State Governor, Dr. Ifeanyi Okowa has disclosed that the development of the solid Mineral sector would enhance the diversification of the economy and avail the nation with more resources for growth and economic balance.
Speaking during a courtesy visit by the Post Mortem Sub-Committee of the Federal Account Allocation Committee (FAAC) in Asaba on Monday July 14, 2015), Senator Okowa, represented by his deputy, Barrister Kingsley Otuaro said that the over reliance on the oil and gas sector could no longer sustain the economy.
Senator Okowa explained that the state started the Delta Beyond Oil initiative to diversify our economy because it believed that other sectors of the economy can be developed to yield more resources for the growth and development of the state and nation.
“As a state, we believe that the oil and gas sector can no longer sustain our economy that is why the State under the previous administration started the Delta Beyond Oil initiative”, Dr. Okowa said.
He continued “We will take maximum advantage of your visit and not relent in our bid to diversify the economy of the state. You are advocating for states to look into the solid mineral sector and explore it since it has great potentials of generating more revenue for the country, we will do just that.”
Earlier, the leader of the FAAC Post Mortem Sub-Committee, Mr. Afolabi Popoola opined that they were on a working visit to different states of the federation with solid mineral resources to educate them on the potentials of the sector.
He disclosed that the revenue coming to the states are dwindling because of a fall in the price of oil and gas and the committee was advocating that states should look into the solid mineral sector as a means of diversifying their economy and generation more revenue.
“If we look at the solid mineral sector critically there is the need of making more money like in the oil and gas sector, government need to venture into this area, a lot of private sector is investing in the solid mineral sector and so there is nothing wrong if government go into it”, he said.