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Ajaokuta, Itakpe concession to generate revenue for Nigeria, says Fayemi



 Dr Kayode Fayemi, Minister of Mines and Steel Development says Ajaokuta and Itakpe modification concession will form the proposed economic resources corridor for Nigeria. Fayemi announced this during a two day workshop on Policy and Capacity Building for a Successful and Sustainable Mining Sector, on Monday in Abuja. 

Fayemi, who gave the advice on Tuesday in Abuja while answering questions from senators in the course of his screening as a ministerial nominee, said it was unfortunate that no fewer than 110 million Nigerians lived below the poverty line on two dollars per day.
“Poverty is clearly deep in our country. If you look at our manifesto, we put it at a figure of about 110 million Nigerians who live below the two dollar per day margin in our country. “It is not really poverty, it is inequality. You cannot have progress in any country, where one per cent of the population controls 80 per cent of the resources. “The second issue to tackle, which I believe our government is taking head long is corruption. “The amount of leakages in the system in our country is unacceptable and we need to do something fundamental about it. 

“Leadership by example would have to be where to start. We need to reduce significantly the recurrent expenditure in our country. “We also need to ensure that crime is linked to sanctions so that impunity will not continue to drive the country deeper and deeper into poverty.’’ He also spoke of the need to diversify the nation’s economy in addition to plugging all leakages from the economy. The former governor also made a case for the creation of adequate job opportunities.

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 Fayemi spoke about his predecessor’s monetary obligations to banks, contractors, and individuals, which he had to settle. “I met obligations in excess of 30 billion naira to banks, to contractors, to a range of people that government owed; and I took it in my stride. “Completed virtually all the projects started by the Oni administration; paid off the bulk of the outstanding obligations to contractors and then we moved on. “As governor, I borrowed; but it is not in the range of what has been bandied.”

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