By Simon Ebegbulem
BENIN— GOVERNOR Adams Oshiomhole of Edo State, Thursday, said Governors were consulted before Federal Govern-ment launched the Sovereign Wealth Fund with $1 billion last Tuesday as against insinuations in some quarters that they were not consulted.

Oshiomhole spoke at the opening of the 15th annual conference of the Institute of Nigerian Stockbrokers in Benin. He said: “Minister of Finance, Dr. Ngozi Okonjo-Iweala, consulted a few of us Governors before the Sovereign Wealth Fund was launched. We gave our support for the launch. It was done with our consent.

“I must say that Okonjo-Iweala has been more engaging and civil in her approach by reaching out to stakeholders on the matter. It is an ongoing discussion. I believe the matter will further be discussed at our next joint meeting.”

Oshiomhole noted that a more sustainable approach to saving should involve deducting an agreed percentage of national revenue, irres-pective of fluctuation in oil price, for future development.

He said: “Saving only when there is excess crude money is not sustainable.”

Oshiomhole who underscored the impor-tance of infrastructure to the development of the country, said: “No nation has attained greatness without addressing infrastructure decisively.

“In Edo State, we recognised this point so instead of embarking on seven-point or 10-point agenda, we stuck to one point, which is renewing infrastructure.

“We recognised the need for digital infrastructure which was why we are building six-lane roads with basic features such as walkways, covered drains and street lights as well as deflooding the city.

“We also realise there is life outside the city. This is why we are integrating rural communities by building standard roads across the 18 local government areas, providing water, providing healthcare and electricity.”