A Northern group, under the auspices of North-East Progressive Youth Assembly (NPYA), on Sunday, warned that unless the six North-East states redouble their internally generated eevenue (IGR) efforts and set up a public bank to service the economy of the zone, poverty, unemployment and insecurity would remain with the region for long.
The group, in a statement signed by its chairman, Sabiu Tirmizi, recommended that governors of the North-East States needed to contribute N5billion capital each to kick-start the first fully government-owned development bank in the area.
The statement said the move became necessary: “Because all of the estimated 25 commercial banks are owned wholly by entrepreneurs mostly from Southern part of Nigeria.”
On the need for state governments in the North-East to redouble their drive on IGR, the group called on the Northeast governors “to borrow a leaf from the effective IGR strategy employed by Governor Bala Mohammed of Bauchi State, whose IGR has been sufficient enough to take care of his massive infrastructural projects.”
The statement noted that, “so far, all the promises made to the North-East by successive Nigerian Federal Governments are yet to be fulfilled, especially the multimillion dollar Mambilla Hydro-electric project, which has remained a mirage. This is just one example of the negligence that the Northeast has suffered for decades and frustration has already set in.”
According to the group, “all the media hype of Southern State governors on revenue accrual to the federation account should serve as a warning to Northern governors to improve upon their existing internal revenue drive or pay a heavy price from over-dependence on the centre.”