See the full details of Gov. Wike's economic development strategy

Governor Wike's Productive Economic Development Strategies By Simeon Nwakaudu At the twilight of his ill-fated 8-year reign of failure, the immediate past Governor of Rivers State, Mr Chibuike Rotimi Amaechi used his 50th Birthday Celebration to announce an orchestrated economic doom for the state. Having destroyed the economic fundamentals of the state, he predicted a bleak future for the state. He mocked the entire Rivers people to scorn for refusing to elect his political godson, Dakuku Peterside. "I’m not joking, we have no money anywhere. In Rivers State, no money. I think Nyesom Wike is coming, we are waiting. He will look for money for salary; there is none.", said Rotimi Amaechi during his birthday celebration at Obi Wali Cultural Centre, Port Harcourt on May 27, 2015. With this ugly prediction, immediate past Rivers State Governor, Chibuike Rotimi Amaechi defined the restoration and reconstruction assignment placed before the incoming administration. He handed Governor Wike a recipe for failure. In that recipe was a bag of excuses. Governor Wike chose to travel the route of performance. Aside the fact that there was no money anywhere in the state as Amaechi confessed, he laid economic landmines everywhere for Governor Wike. He left four months unpaid salaries of civil servants and six months pension arrears. The immediate past APC administration in the state left a disillusioned civil service with unpaid monthly overheads, closed courts and a crippled Rivers State Assembly. From the very day Governor Wike took over, he refused to travel the route of economic failure. He deployed his economic dexterity and administrative experience to revive the economy of the state. Governor Wike sourced funds to settle the four months civil servants salary arrears and six months pension arrears. This singular act reved the economy of the state. He opened the courts for judicial activities. This attracted businesses which needed the courts to address pressing litigations. The Rivers State House of Assembly was proclaimed to serve its lawmaking role, which was needed for critical economic interventions and engagements with financial institutions. Therefore, the Budgit Report which declared that Rivers State topped the country's fiscal index did not come to many as a surprise. It is the outcome of the implementation of clear-cut economic recovery policies and strategies arranged to lift the state from years of economic stagnation, the administration inherited. According to the ‘State of the States’ report released by BudgIT Nigeria, Rivers State is placed first ahead of Lagos State because of its healthier financial profile especially in terms of increase in Internally Generated Revenue (IGR), lower debt profile and ability to pay its bills and service her debts with comparative ease." The Rivers State Government under the leadership of Governor Wike has instituted a working platform for the regular payment of salaries and pensions. Another platform has been modelled for the functional financing of critical development projects across the state. That is why Rivers State has overcome the challenge of salaries payment. Like already mentioned by the BudgiT report, the Wike administration has re-jigged the state's internal revenue service for higher income for the state. Governor Wike personally drove the tax reforms of the state which plugged loopholes and eliminated multiple taxation. The governor held several meetings with major stakeholders to streamline the state's internal revenue generation capacity. He met with banks, private hospital proprietors, hotel owners, council chairmen and security agencies to develop a common ground for effective implementation of the state's revenue platform. In 2016, Governor Wike implemented a budget of consolidation. This helped to develop the quick-win projects that Governor Wike implemented in the first 7 months of his administration. The policy thrust of the 2016 budget was to strengthen the foundation, consolidate the gains already achieved and take Rivers State to the next level of development. The 2016 budget met the following policy goals: Effective mobilization, equitable allocation and prudent management of public finances; built a modern, productive, diversified and competitive economy to create jobs and empower Rivers people; completed several ongoing basic infrastructure projects and initiated new ones. The 2017 budget which is still being implemented by the Wike administration was structured to align expenditures to priorities that best support the state's economic transformation agenda. As a result, Security of lives and property, Infrastructure development and maintenance, Education,Healthcare delivery, and Empowerment have received deserved attention. Without doubt, the state economy has been better for it. The economic development programme of Governor Wike has been linked directly to the people. This is to ensure that they benefit from all the investments made by the administration. In April of 2016, Governor Wike implemented the disbursement of business loans to 35000 small business owners. The aim was to empower small and medium scale business owners in the state through the CBN N2billion Micro, Small and Medium Entreprises Development Fund. Amongst these beneficiaries are Indigenes and non-indigenes resident in Rivers State. Furthermore, the Rivers State Governor initiated plans to empower 20,000 youth to embrace agriculture through the provision of necessary loan facilities. Governor Wike unfolded the plan at the celebration marking this year’s World Food Day in Port Harcourt. He said his administration was partnering with the Central Bank of Nigeria (CBN) to enable 10,000 youth between the ages of 18 and 35 years access the agric loans. The governor said another 10,000 youth would be empowered through the partnership arrangement with Siat Nigeria Limited. He said: “As a government, we will continue to encourage our people to go into agriculture and exploit the opportunities of agriculture. “We will continue to support ventures and give facilities to our youth for agricultural purposes. This is to ensure that farming is made profitable across the state”. The governor explained that as more people from the state are able to reap the benefits of agriculture, the better for the state, stressing that agriculture alone can employ more people than any other business. The administration ensured that the contracts for the reconstruction and furnishing of 175 State Schools were handled principally by local contractors. Most of the contracts have improved the productive capacity of the contractors, while the state economy has witnessed the desired expansion. Governor Wike operates a pragmatic economic development strategy which is aimed at building a state with boundless opportunities for everyone who lives in it. The New Rivers Development Blueprint which is being implemented was designed basically to create an economy that will develop platforms for people to achieve their potential and goals in a peaceful environment with needed infrastructure. The ‘State of the States’ report released by BudgIT Nigeria is an indication that Rivers State is moving in the right direction. It proves that the economic policies of Governor Wike are working for the people and most importantly that the quality of lives of the people will continue to improve.