Amosun changes to risk-based policies with new cabinet.

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With the drop in resources occasioned by the fall in global oil prices amidst increasing demands, Ogun state is now shifting its economic policies, embracing risk management to deliver on good governance.

The sudden fall in global crude oil prices has shrunk resources at the centre in Nigeria, forcing a sharp cut in federal allocations to states and has hampered capital expenditure with little to regenerate infrastructure. Many have resorted to taxation and borrowing to fund public expenditure.

The reality of the current situation is ushering new economic policies in Ogun state to inculcate pragmatic risk management and recovery in the economic system, and balance public investment and risk with an effective revenue or loss forecast in order to prevent bad liquidity experienced by government.

This is noticeable in the new cabinet of the state constituted Thursday by Governor Ibikunle Amosun of Ogun state reinforcing belief of policies that dwell on investment, risk and recovery-based public financing.

Amosun retained four commissioners of the old stock namely, Bimbo Ashiru, Ronke Sokefun, Lekan Adegbite and Muyiwa Oladipo and brought in new people with minds in the new direction the state is heading.

For the first time, an Economic Adviser was appointed, Babajide Odubanjo, immediate chairman of Ogun State Internal Revenue Service (OGIRS) to work with Wale Oshinowo, ex- group head, risk and recovery in Sterling Bank as finance commissioner and Adenrele Adesina, another financial strategist as commissioner for budget and planning.

A combined team of Bimbo Ashiru, a tested technocrat; Wale Oshinowo, a risk and recovery manager; Adenrele Adesina, a seasoned financial expert and Babajide Odubanjo, taxation and revenue expert joined a team of other 14 commissioners and 17 special advisers, to assist Amosun.

Other cabinet members are Jide Ojuko (Local Government and Chieftaincy Affairs); Muyiwa Oladipo (Culture and Tourism); Bimbo Ashiru (Commerce and Industries); Ronke Sokefun (Agriculture) and Modupe Mujota (Education, Science and Technology).

Also are Adeleke Adewolu (Special Duties and Inter-Government Affairs); Babatunde Ipaye (Health); Kolawole Lawal (Forestry); Bolaji Oyeleye (Environment); Adebola Adeife (Physical Planning and Urban Development); Gbenga Adenmosun (Community Development and Cooperatives) and Afolabi Afuwape (Youth and Sports).

Others are ‎Olumide Ayeni (Justice and Attorney General); Segun Abiodun (Housing); Olamilekan Adegbite (Works and Infrastructure); Adewale Oshinowo (Finance); Adenrele Adesina (Budget and Economic Planning); Adedayo Adeneye (Information and Strategy).

Author: Akin Adesanya.

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