Aregbesola Reiterates Good Governance as Panacea for Economic Development

The Governor of the State of Osun, Mr. Rauf Aregbesola has described the upward slope of  Osun State economy as a pointer to deliberate and strategic application of good governance in an environment that was once a typical picture of an economy on total decline.

According to Governor Aregbesola who spoke at the Osun State economic summit tagged Orisun Aje with the theme; Crux of Osun Economic Developmental Master Plan: Analyzing radical paradigm shift organized by Peoples’ Welfare League (PWL) in Osogbo, Osun State to review the economic profile of the State in the last 40 months of the current administration.

He said although his administration met a State groaning under heavy pains of rising unemployment rate and critical decay of public infrastructures, the tide, however changed with application of ingenious people friendly economic strategies backed with selfless desire to change the fate of the poor economy.

The Governor noted that with clear vision, efficient structuring of the state transaction, credible management of the State project financing and strategic private-public partnership are some of the ingenious strategies applied to re-position Osun State as the state with the lowest poverty index in Nigeria according to National Bureau of Statistics (NBS).

He however advised the summit organizers to be thorough in their management of public views at the event. ‘I enjoined the organisers of this summit not to patronize our government. Be bold and courageous to challenge us where are not doing it right. I urge you to be critical and dispassionate in your deliberations”, he noted.

Speaking as the Chairman of the Economic Summit, Comrade Hassan Sumonu, a renowned Labour leader and an indigene of the State described the wind of change blowing in the State as impressive compared to many years of inactivity or low economic activities. He said, "I support all developmental initiatives that are people oriented and brings about development".

The State Commissioner of Finance, Dr. Wale Boluwaduro the State is poised for more economic prosperity because of the administration’s strategic investment strategies, recovery of state hidden treasures, efficient management of State asset  and futuristic private-public participation.

Other speakers at the opening of the two-day economic summit include Professor Mojeed Alabi from University of Ilorin. He explained that for any economy to witness development, it is germane to witness political stability. ‘We must note that there is a critical link between political stability and economic development. Economic prosperity of individual is indispensible of good governance”, he stressed.

Comrade Abiodun Agboola, The Chairman of People’ Welfare League (PWL), the non-governmental organization who initiated the summit, observed that the group will make the event an annual ritual as a way of acting as an independent body to review activities of  government within the public domain.

He noted that, “PWL as the third of eye of the public has elected to shoulder the responsibility of bringing the stakeholders together in order to assess the situation of the last 40 months in line with our tradition.”

The economic summit has in attendance, representatives of key civil societies, trade unions, cottage industry owners, community-based organisations and select traditional rulers. Emerging corporate and business concerns such as O’meal, representatives of Omoluabi Garments, RLG and key nation commercial Banks are represented at the event.