The Governor of Oyo State, Seyi Makinde, has blamed the continual rise in inflation rates for his administration’s inability to successfully ameliorate the hardship caused by the removal of fuel subsidy and the Naira to Dollar exchange rate.
The governor made this known in his New Year address to the people of the state on Monday.
Makinde noted that the last seven months had been challenging for his administration.
According to him, the removal of fuel subsidy and the peg on the Naira to Dollar exchange rate has had negative impacts on the people of the state, making it seem his administration has done nothing to help their plights.
The address partly reads, “The last seven months under Omituntun 2.0 have been challenging. The removal of fuel subsidy and the peg on the Naira to Dollar exchange rate has taken a toll on our economy and people.
“For this reason, in the past months, we have taken steps that show that we continue to put our people first.
“We have initiated actions through the Sustainable Actions for Economic Recovery programme that ensured that we provided immediate relief for our poorest population through food relief packages. We also extended this package to pensioners and civil servants.
“We set up low-interest loans for our traders, market men and women, youth agropreneurs and smallholder farmers. We also distributed grains and other inputs to our smallholder farmers. We paid for health insurance for our pensioners and other disadvantaged people in our society. We also provided low-cost transportation through our Omituntun Buses both within and outside Ibadan.
“We know this is not enough as inflation rates continue to rise. And so, as we cross the halfway mark of our first year with the Omituntun 2.0 mandate, this is an auspicious time to remind you that our administration was built for times like this. The implementation of our 2024 Budget of Economic Recovery will serve to reinforce the reforms that we are introducing to secure our economy further.”
The governor sought more support from the people of the state in achieving his administration’s goals in the new year and beyond.
He said, “We again ask for your support as we take the tough decisions that will see our dear State deliver prosperity for all. We have so far been bullish about bringing investments into Oyo State, and as the new year unfolds, you will see more and more ways in which we have continued to put you first.
“This year, we look forward to completing more road projects like the 76.67 km Iseyin-Fapote-Ogbomoso Road construction and the 38 km Ido-Eruwa Road reconstruction. We will also be reconstructing and rehabilitating more feeder roads across Oyo State.
“We look forward to welcoming more industries into our dear state as we commission the pilot Fasola Agribusiness Industrial Hub and start work on the Eruwa Agribusiness Industrial Hub.
“We look forward to reaping revenue from the solid minerals sector and completing our first Independent Power Project.”
He added, “We look forward to welcoming investors into our tourism sector as we seek to revitalise the Ibadan Cultural Centre and Agodi Gardens while opening the Eleyele Lake, and the Iyake Lake, Ado-Awaye, to investor interest.
“We believe that by following this economic blueprint, with God on our side and your continued support, our administration will continue to put our dear State on the map for all the right reasons.
“While we promise to continue making decisions that will make us proud to be from Oyo State, we implore you to work with us as we seek to bring sanity to the State by implementing the rule of law. It will be impossible to enforce laws without stepping on toes.
“I urge us all to see the bigger picture – a State where investors and tourists will be happy to come to and live because they know that they can feel safe and secure. May 2024 be that year when things turn around for us all for good!”