The need to look beyond the Petro-dollar and embrace an agro-based economy has been emphasised by speakers at the annual January 9 Collective's (J9C) Lecture held on Thursday at the Sheraton, Ikeja, Lagos.
Speakers including foremost economist, Ayo Teriba, House of Representatives' Minority Leader, Femi Gbajabiamila and the Chairman, Lagos Internal Revenue Service, Mr. Babatunde Fowler, warned of the looming dangers in Nigeria's over-reliance on a mono-product economy, especially when all indices are showing that oil revenues are dwindling, reserves are fast depleting and nations are providing alternative to oil.
Teriba expressed the need to cultivate viable agriculture, supported with effective rail transport and good governance to reduce dependence on oil . He reeled out startling stastics on how much the economy has plummuted and why agriculture could be the proactive response to the imminent danger.
Earlier in his keynote address, Gbajabiamila had expressed fears on Nigeria's reliance on oil and suggested agriculture with viable policy reforms in that sector. He condemned the ravaging oil theft and the devastating effect on revenue and budget allocation. During one of the sessions, TV broadcaster and founder of Change A Life,Funmi Iyanda, commended the initiative of J9C and suggested that Nigeria should look back and re-adopt regionalism for effective growth and non- reliance on the government at the centre for allocations.
Lagos Tax boss, Babatunde Fowler warned against too much reliance on federal allocation and implored the states in the federation to look inward to generate more revenue, using Lagos as a model to reform their tax code: be more aggressive to plug the holes as well as make their states business friendly to encourage investors and business growth.
Guests including a former Presidential candidate and Publisher, Ovation InternationalMagazine, Bashorun Dele Momodu, expressed regrets that opinions and suggestions on how to move the nation forward have been misconstrued and public discourse reduced to ethnic, religious and other primordial interests. He said that he has chosen not to talk again but limits his intervention to his popular column, The Pendulum. Notable guests at the lecture include HRH, Orangun of Oke-Ila, Oba Dokun Abolarin, Publisher, Global Excellence, Lord Mayor Akinpelu, Managing Director, The Telegraph, Bolaji Tunji, House of Reps members- Hon. Toyin Suarau, Ojo (Fed. Constituency), Hon. Jide Akinloye, Etiosa Fed. Constituency) and Hakeem Muniru(Oshodi Fed. Constituency) who is also a distinguished member of J9C.
Two other discussion segments held with IT experts, Gbenga Sesan, Koffi Nuel.
J9C, according to the group's President, Percy Ademokun, was borne out of the fuel subsidy crisis' protest that took place in Ojota, Lagos in January 2012 and it is non-political, not anti-government, self-sponsored and committed to good governance in Nigeria.
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