An International Economic Development Expert, William Otabor, has Congratulated Governor Godwin Obaseki on his Supreme Court Victory and advocated for a focus on Key Engines for accelerated economic growth in Edo State.
The financial economist listed various areas of policies, initiatives and strategic infrastructures such as roads, water and housing as quintessential for catalyzing the momentum of economic development in the State.
As sn International Economic consultant with vast background in finance for African developing nations, William Otabor, in his congratulatory message to Governor Obaseki, noted that the Supreme Court judicial pronouncement ‘’represented the affirmation of the voice of the people which is the voice of God.’’
According to William Otabor, ‘’the judicial battles of the electoral struggles are now over and settled, all Edo people of good conscience must now realign themselves with the agenda of growth for which the Governor has justifiably gained global recognition.’’
Otabor observed in the congratulatory message that ‘’Edo State was not merely the amiably characterized geographical heartbeat of the nation but also had the capacity to become the oxygenating spring of Nigeria’s South-South regional economy.’’
In the message titled ‘’Governor Obaseki and the Historic Imperatives for Accelerated Economic Growth in Edo State, William Otabor stated that there were various basic projects with profound catalytic potentials for rapid economic development in Edo State.”
The financial economist included “road infrastructure, the existence of functioning and access to clean public water and housing as basic and vital for speedy development of any society.’’
According to him, ‘’while there are many facets of infrastructure to be considered for speedy growth strategy, it is important to commence the exigent dialogue on rejuvenation of the state economy from the unarguable fundamental anchors of provision of clean water, road construction and housing.’’
In a summary projection and the holistic potentials of the policy strategy, William Otabor noted that ‘’society’s labour live in houses, they go to work via roads and the existence of functioning public utility that provides water in every home in a city, is an elementary but fundamental metric for a civilized society.’’
On roads, he remarked that the existence of good physical terrain for quick and easy mobility of people is an invaluable public asset.
’But roads in economic reality do more than facilitate the transportation of people and goods between distances as the infrastructure can also ease the location of electric poles and improved means of connecting water and gas pipes to individual homes’’, William Otabor further emphasized.
The financial expert who added that with modern technology, improved cellular and data coverage equipment can be attached to the electric poles for better communication services, further suggested that the Government should sensibly tax the citizens for the various values they derive generally from durably-constructed and well-maintained roads particularly in the area of vehicular usage, polluting carbon emissions and towing services.
Regarding water as a catalytic developmental infrastructure, William Otabor proposed that local government should raise capital from the state government for enhanced water and sewer services to businesses and homes.
’’The third-tier government can actually create a dependable stream of income generation from clean water supply as the amenity is inextricably central to the life of every citizen’’, he observed.
On housing as a strategic stimulant for a formidable economy, he stated that ‘’it is vital for the government to enact an urban development policy in which housing has to be prominently anchored.’’
Additionally ,the financial economist declared that favourable monetary consideration must be accorded low-income earners, civil servants and farmers (especially in the rural areas) to ensure the evolvement of a large sustainable real estate market from which the Edo State Government can derive appreciable revenues.’’
William Otabor also noted that Governor Obaseki policy on tax reforms, the creation of enhanced business and investment atmosphere as well as the prioritization of youth empowerment with emphasis on information-technology education were initiatives with energetic developmental potentials.
He, however expressed confidence that Governor Obaseki has the combined capacity of a visionary technocrat and a pragmatic people-oriented political leader to elevate Edo State into the status of the premiere economy in Nigeria’s South-South region.
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