Don't Miss

Oyo witnessed $3.49m capital importation in first half of 2014 – Ajimobi

By BusinessNews Staff on November 23, 2014

Governor Abiola Ajimobi of Oyo State has said the amount of capital importation into the state had increased by 69 per cent, approximating $3.49 million, up from $500,000 between the first and second quarter in the year.
He made this known while speaking with leaders and traditional chiefs from Ibadan North East Local Government Area of the state, as part of his tour of the 33 councils in the state.

According to him, this figure has made nonsense of allegations from the opposition parties in the state that the state was witnessing capital flight since the inception of the Ajimobi administration.

The governor said he was not quoting from a statistics manufactured by him but a report released recently by the National Bureau of Statistics, a federal government institution.

“As revealed in the report, total capital imported into the country stood at $5.8 billion as at the end of the second quarter of 2014, relative to the $3.9 billion recorded in the preceding quarter. Of these, Southwest Nigeria was at the top destination for capital importation in the first half of 2014, with about 98 per cent of total capital imported resident in the region.

“This impressive performance located capital importation into Oyo State as having increased by 697 per cent, approximating $3.49 million, up from $500,000 between the first and second quarter in the year. Happily, our uninformed and mischievous cynics have again been proved wrong in their assertions that there is capital flight in Oyo State,” the governor said.

Ajimobi said his mission in governance was to redeem the state from the shackle of underdevelopment, urging the people not to be deceived by the antics of deceitful and selfish politicians who are out to discredit the present administration.

He pointed out that his administration had continued to play the politics of development, truth and honesty to establish a veritable platform the performance and good governance

“I am not a desperate politician who is out to canvass for votes by all means. My mission is to redeem the state from under-development and deceitful politicians,’’ he said.

[ThisDay]

headline