Chairman of the newly inaugurated Gombe State Investment and Property Development Company (GSIPDC), Umaru Mohammed Kwairanga has called on states to embark on investment drive, with a view to putting an end to over reliance on federal allocations.
Kwairanga spoke when his board was inaugurated by the state governor, Muhammadu Inuwa Yahaya at the Exco Chamber, Government House, Gombe.
He said members of the board are the best and brightest of Gombe citizens, who according to him, have excelled in their various offices and are renowned technocrats and professionals of the highest calibre.
Kwairanga stressed that the anticipated turnaround of the Gombe State Investment and Property Development Company, is coming at a time the days of states depending on federal allocations for their development and running costs are coming to an end.
“The truth is with the impact of the covid-19 pandemic on the economy, dwindling revenue from crude oil, current agitations for restructuring and Nigeria’s growing population and needs, depending largely on the federation account cannot be sufficient if we truly desire development in our state.
“We must look inwards and assess what resources Allah has blessed us with and look outwards for partners who are willing and able to help us develop those resources if we are to ensure Gombe State’s sustainable development. The state’s investment company is the statutory vehicle to lead this investment drive insha Allah,” he said.