Governor Adams Oshiomhole of Edo State has called on government at all levels in the country to devote more of their budgets to capital expenditure to fast-track the development of infrastructure in the country.
The governor, who said Nigerians cannot continue to lament the failures of the past, said proactive measures should be taken to correct the mistakes of the past.
Speaking at a lecture to celebrate the 78th birthday of former Head of State, General Yakubu Gowon, at the National Institute for Policy and Strategic Studies in Kuru, near Jos, Plateau State, Oshiomhole also called on the Governor of the Central Bank of Nigeria to help bring down the lending rate.
He said: “We cannot catch up with the advanced nations when we spend 80 per cent on recurrent expenditure and 20 per cent on capital expenditure. If we spend 80 per cent on recurrent expenditure and 20 per cent on capital, we will never catch up with Malaysia.
“Can we stop lamenting yesterday and start with this year’s budget? I am not bothered on how we lost yesterday, I am bothered on how we are unable to learn from the lesson and secure our tomorrow.
“We have no right to spend more than we have or 80 per cent of every kobo we have on recurrent expenditure. When I went to Edo State, I found that my predecessor was spending about 80 per cent on recurrent expenditure and I said no, you have to reverse it in favour of capital. 60 per cent capital, 40 per cent recurrent.”
The governor said there is also the urgent need to review the revenue allocation.
While commending Gowon for his courage and exemplary leadership to rule the nation during the turbulent civil war, Oshiomhole said in that era Nigeria believed in planning.
He added: “In the days of General Gowon, nothing happened by accident but due to meticulous planning. They knew that if they created the railways it will take a number of passengers and take care of a number of jobs, so nothing happens in the life of a nation by miracles.
“There is no doubt that you provided uncommon leadership during a turbulent period of the nation’s history making reconciliation and reconstruction possible.”
Gowon said that despite the nation’s travails, Nigerians must stand united.
He said: “We must as a nation and as a people stand united in our pursuit of a great Nigeria with a focus.”
He urged the people to pray for good leaders for the nation.
Guest speaker on the occasion, Mallam Sanusi Lamido Sanusi, had lamented that Nigeria had failed to attain her potentials despite the human and natural resources and the projections by world.
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