John Olumodi
In the quest for economic revitalization and sustainable development, Ondo State finds itself at a pivotal moment. The imperative to breathe new life into moribund industries while bolstering internally generated revenue (IGR) has never been more pronounced. Dr. Olamide Ohunyeye, a gubernatorial candidate with a distinguished military background and a visionary approach to leadership, presents a comprehensive plan to achieve these twin objectives.
Dr. Ohunyeye’s strategy for resuscitating moribund industries in Ondo State is grounded in a meticulous assessment of the challenges they face and a commitment to implementing targeted interventions to address them. Rather than a one-size-fits-all approach, he proposes a tailored strategy that takes into account the unique needs and circumstances of each industry. This involves convening a task force comprised of industry experts, economists, and stakeholders to conduct thorough assessments and develop customized rehabilitation plans.
A central pillar of Dr. Ohunyeye’s plan is infrastructure development. Recognizing the pivotal role of infrastructure in facilitating industrial growth, his administration will prioritize projects aimed at improving power supply, enhancing transportation networks, and ensuring access to water resources. By creating an enabling environment for businesses to thrive, Dr. Ohunyeye aims to attract investment, stimulate economic activity, and create employment opportunities for the people of Ondo State.
In addition to infrastructure, Dr. Ohunyeye emphasizes the importance of technology and innovation in driving industrial resurgence. His administration will foster partnerships with research institutions and private sector entities to facilitate technology transfer, provide training programs, and support the adoption of modern production techniques. By embracing innovation, Ondo State can enhance productivity, improve competitiveness, and position itself as a hub for technological advancement in the region.
Access to finance is another critical factor in revitalizing moribund industries. Dr. Ohunyeye proposes to establish an industrial development fund in collaboration with financial institutions and development partners to provide affordable credit facilities, grants, and incentives to entrepreneurs and industrialists. By addressing the funding gap, his administration seeks to unlock the potential of Ondo State’s industries and catalyze economic growth.
Market linkages and export promotion are also integral components of Dr. Ohunyeye’s industrial revitalization strategy. His administration will work to facilitate access to domestic and international markets, support value-added processing activities, and implement trade facilitation measures to enhance the competitiveness of Ondo State products. By tapping into global demand and diversifying export markets, Ondo State can generate additional revenue streams and reduce its dependence on volatile commodity prices.
In tandem with industrial resurgence, Dr. Ohunyeye’s plan to enhance internally generated revenue (IGR) focuses on diversification, efficiency, and transparency. Recognizing the limitations of overreliance on federal allocations, his administration will prioritize the development of non-oil sectors such as agriculture, tourism, mining, and renewable energy to broaden the revenue base. By harnessing the potential of these sectors, Ondo State can create sustainable sources of revenue while reducing its vulnerability to external shocks.
Strengthening tax administration and compliance mechanisms is another key aspect of Dr. Ohunyeye’s revenue enhancement strategy. His administration will modernize tax collection systems, streamline processes, and leverage technology to improve efficiency and transparency. Additionally, efforts will be made to enhance taxpayer education and engagement to foster voluntary compliance and broaden the tax base.
Public-private partnerships (PPPs) will also play a crucial role in revenue enhancement and infrastructure development. Dr. Ohunyeye plans to explore opportunities for PPPs in sectors such as transportation, healthcare, education, and infrastructure, leveraging private sector expertise and investment to deliver essential services and generate revenue for the state. By harnessing the strengths of both the public and private sectors, Ondo State can optimize resource utilization and maximize revenue potential.
Ensuring fiscal discipline and accountability is paramount to the success of Dr. Ohunyeye’s revenue enhancement efforts. His administration will institute robust financial management systems, implement stringent budgetary controls, and strengthen oversight mechanisms to prevent leakages and ensure that public funds are judiciously utilized for the benefit of the people. By fostering a culture of transparency and accountability, Ondo State can instill confidence in investors, taxpayers, and citizens alike, laying the foundation for sustainable economic growth and development.
Dr. Olamide Ohunyeye’s blueprint for industrial resurgence and revenue enhancement in Ondo State represents a bold and ambitious vision for economic transformation. Through targeted interventions, innovative policies, and effective governance, he aims to revitalize moribund industries, stimulate economic growth, and enhance internally generated revenue, thereby creating a pathway to prosperity for the people of Ondo State.
