Dwindling Oil Revenue: Gombe Govt. Takes Remedial Steps | DETAILS

Dwindling Oil Revenue: Gombe Govt. Takes Remedial Steps | DETAILS

Gombe state government has expressed concern on the dwindling oil revenue recently facing the country.

In the wake of that, the state government has stressed its commitment to partner with Revenue Mobilization, Allocation and Fiscal Commission and other stakeholders to ensure improved revenue generation through diversification of the economy.

This was disclosed at the opening ceremony of a three-day Advocacy Workshop on Economic Diversification and enhanced Revenue Generation by the Revenue Mobilization Allocation and Fiscal Commission (RMAFC) for the three geopolitical zones in the North at the Banquet Hall of the state Government House.

Governor Muhammadu Inuwa Yahaya who was represented by his deputy, Dr Manassah Daniel Jatau, said that the workshop with the theme “Taking Economic Diversity and Revenue Generation to the Next Level” is timely and inevitable as times we are faced with economically calls for such.

“My assertion is on account of the numerous challenges that we are witnessing,” he said.

He enumerated the challenges to include continuous decline in the oil market which is affects the revenue of the federal government and as such extends to the states in the country, unpredictable, unreliable and great instability of events that largely impacted on the nation’s dependence on revenue from hydrocarbon that is now susceptible to the impulses of the international markets politics and health threats as was the case with Covid-19, and the constant discovery of oil around the world.

He added that the country should explore other revenue alternatives as recent inventions and discovery is giving the world an alternative sources of energy as in the case of Alhaji Hadi Usman, a Gombe citizen who invented a stove that uses water.

However, he expressed delight that recently, there has been focus on agricultural products such as cassava, cotton, hides and skin, groundnuts’ cocoa and palm oil, among others which could help the country’s economy to bounce back from its dwindling state.

He said, “Having travelled fairly round the world, and based on my vast knowledge of the North East, each of the six states can be a country and survive if forced to. While Taraba can survive on Tea and Tourism like Kenya, Borno can feed Africa with wheat based on the concept of Chad Basin Development Authority. Adamawa State can survive on animal Husbandry that will translate into dairy produce, meat production, tannery and even production of leather and leather products like shoes, belts, bags etc.

“Yobe and Bauchi have their potential also. It is interesting to know that Singapore is not as big as Balanga Local Government Area, that is 1626 square meters. Gombe in particular was known for the production of various farm produce, with the high grade of cotton hence the establishment of British Cotton Growing Areas (BCGAs) Ginneries established in Kumo and Gombe towns”, he added.

He expressed delight that Gombe is on its verge of creating a diversified economy and an enabling environment that would encourage investors. He posited that the state has the highest potentials including two big Dams in Dadinkowa and Balanga, solid minerals, coal mines, gemstones, gypsum.

The chairman, Revenue Mobilization Allocation and Fiscal Commission, Engr Elias N Mbam who spoke earlier explained that the Commission was established with the mandate of sharing and allocation of revenue to federal, states and local governments with the mandate of improving sources of revenue, and that necessitated the workshop.