Allocation alone can’t guarantee prosperity for states — Oyedele

By Emmanuel Iheaka
OWERRI — The Minister of Finance and Coordinating Minister of the Economy, Prof. Taiwo Oyedele, has said federal allocations alone cannot guarantee prosperity for states, urging governments to develop sustainable sources of revenue and drive economic growth.
Oyedele stated this at the 2026 National Council on Finance and Economic Development (NACOFED) conference in Owerri, Imo State.
The minister said the conference was aimed at addressing prevailing economic challenges amid the volatility in the global economy, particularly the impact of the ongoing conflict in the Middle East.
He noted that Nigeria, whose economy remains heavily dependent on oil, could not af...