Sanusi Cites Lagos as Example of Buoyant Economy without Oil

The Emir of Kano, Sanusi Lamido Sanusi has lauded the Lagos State Government on the management of the economy of the State, especially in this period of recession. Sanusi, who was the immediate past Governor of the Central Bank of Nigeria (CBN), said any country that depends on a mono product commodity like Nigeria is bound to fail.

 According to him, Nigeria and other African countries has a lot to learn from how the economy of Lagos is being run, especially before the state gained oil producing state status. The Emir, who spoke at a forum recently, commended the Akinwunmi Ambode-led administration in Lagos and urged the State Government not to allow its new oil status distract it from the very solid economic template it is currently running. According to him, Lagos should emulate Norway, where all its oil proceeds are warehoused in a sovereign wealth fund and saved for the rainy day.

Ambode inaugurates N500m disability fund governing board Meantime, Governor Akinwunmi Ambode, yesterday, inaugurated the Governing Board of the Office for Disability Affairs to manage activities of persons living with disability, as well as manage the N500 million Disability Trust Fund of the state. Also, the governor has disclosed that his administration was in the process of setting up an Economic Management Team comprised of distinguished individuals from the private sector and the public sector to manage and scale up the successes recorded in the economy of the state. Governor Ambode, while inaugurating the 10-man board, chaired by Dr. Waheed Oki, at the Lagos House, Alausa, Ikeja, expressed optimism that it will aid people living with disabilities in Lagos State to realize their dreams and live a more comfortable life. He added that it was in fulfilment of his administration’s promise to ensure that the affairs of people living with disabilities is managed by people passionate enough to show that there is ability in disability. According to him; “Through this fund, the board will help physically challenged persons to realize their dream and live a more comfortable life.”

The governor noted that the inauguration of the board indicated the state drive to show there was ability in disability. Economic think-tank Also, Ambode while receiving a delegation from the Nigerian-British Chamber of Commerce on courtesy visit to his office, disclosed that his administration was in the process of setting up an Economic Management Team comprised of distinguished individuals from the private sector and the public sector to manage and scale up the successes recorded in that direction.