The governorship candidate of the Nigerian Democratic Congress (NDC) in Delta State, Chris Iyovwaye, says he will industrialise the state and produce locally many of the goods currently being imported if elected governor.
Speaking during an interview on ARISE News on Sunday, Iyovwaye said the strategy would reduce the amount of capital leaving Delta State through imports while strengthening the state’s industrial and agricultural sectors.
“We will industrialise Delta so much so that, you know, the money that will be put into export, into trying to import things into Delta will be reduced.
“Most of the things that we need, if you look at that chain, if you look at that chain, those things can be produced in Delta, whereby it can, it will reduce the cost of how much of capital flight that we have going out of Delta.”
Iyovwaye said Delta had the resources required to develop a self-sustaining economy, particularly through agriculture and industrialisation.
“Look at the things, like I’ve also said, Delta in itself can function as a nation of its own. We have everything in Delta, and for example, we put more money in agriculture, we put more money in industry, we are generating more money that will make the icing on the cake.”
“The money that is being accrued to Delta today can be put into industrialisation and agribusiness that will make the icing on the cake. So, that is the difference.”
He said greater local production would also help reduce the state’s dependence on dollar-denominated imports and limit the pressure created by exchange-rate fluctuations.
“So, most of the time when we look at the economy, when we try to appraise the economy, we look at it in relation of what we make on the dollar, but if we are making more things in debt, like we have always done, this is the difference between what happens now and what happens in Nigeria in the past.”
“We were making most of the things that were being produced in Nigeria. That’s why the Naira was heavy. The Naira had power, but now nothing has been done.”
“We are exporting everything, but I’m telling you that me as governor of Delta will be producing most of the things that we are not importing. So, that will not bring the fact that this ratio of the Naira and the dollar will be reduced to the barest minimum.”
Faridah Abdulkadiri
Follow us on:
