Oyo State Governor, Abiola Ajimobi, on Wednesday said the state must designed strategies to improve its Internally Generated Revenue (IGR), restructuring and blocking of financial loopholes.
Ajimobi spoke in Ibadan at the inter-religious service organised by the state government, the News Agency of Nigeria (NAN) reports.
He said it was only through such strategies that the state would surmount the prevailing economic challenges.
The governor said efforts at improving infrastructure, welfare of the workforce and other developmental initiatives were increasingly hindered by paucity of funds.
“The prevailing economic challenges bedeviling the nation had continued to pose financial threat to meaningful development. It is being made worse by the destructive activities of the Niger Delta militants,” he said.
He urged Nigerians to use the New Year to review the activities of the previous years with the great anticipation of improving upon such in the years ahead.