From Mfon Ekefre, Uyo
Governor Udom Emmanuel of Akwa Ibom State is worried by the present economic situation in the country and the devaluation of the Naira whose exchange rate stands at N307 to the dollar in the economic market.
He said the decline in the economy has brought about shortfall in the in the financial allocation of the state.
The governor, who addressed Government House correspondents, said the development has made it difficult for the state to meet its obligation to its workforce as well as embark on more development projects.
“If not for the ingenuity in fiscal appropriation and management of resources, it would be difficult to meet expectations in handling programmes and projects in the state,” Emmanuel said.
He urged Nigerians to pray for divine intervention to rescue the nation from further hardship as the economy keeps on going down.
Commenting on the various projects, he said work would soon resume at the sites as the contractors will soon move to the construction sites.
The governor also announced plans to launch Grassroots Peasant multi-Purpose Cocoa scheme, adding that consultants from Canada and Switzerland have arrived the state to educate farmers on cocoa cultivation.
He said consumers’ cooperatives would also be established to enable them get improved seedlings and sell at international market price as a way of encouraging local farmers.