Governor Aminu Tambuwal of Sokoto State has urged state governments to diversify internal revenue sources so as to revamp all sectors of the economy.
NAN reports that Tambuwal said this while closing a two-day business opportunity forum organised by the State Government on Saturday.
He said “The dwindling resources in the country have made it imperative for states to look to private investment to survive.
“Sokoto cannot afford to allow its income to be determined by hydro-carbon prices, which from forecast will likely remain low for the foreseeable future.
“So, the only plausible way out for Sokoto and other states is to diversify our internal revenue sources, including the revamping the hitherto robust agricultural sector.
“The state has comparative advantage in sectors like agriculture, tourism, mining and power generation.”
Mr Olivier Dellefosse, the Mission Director of the French Investment Agency (AFD) also added that “The main areas of concern for AFD include power generation, transmission and distribution, urban development, support for SMEs and agriculture.
“The agency will explore areas of cooperation with the Sokoto government for the mutual benefit of the two entities.”