Kaduna State Governor, Nasir El-Rufai, has called on both the Federal and State Governments in Nigeria to diversify their economies as solution to the present harsh economic challenges.

Governor El-Rufai noted that the days of preparing budgetary projections around oil is no longer attainable, hence all states should tap into other resources that are abound in the country.

The Governor made the statement at a meeting with young entrepreneurs in Kaduna State on Wednesday.

While speaking with reporters after the meeting, Governor El-Rufai explained that the harsh economic challenge confronting the nation whereby many State Governments cannot pay workers’ salaries and execute other developmental projects, makes it imperative for governments at all levels to look inward for other alternative sources of generating revenue rather than depending largely on the little monthly allocation that comes from oil.

According to him, never in the history of Nigeria has its economy been badly affected like in the present situation due to the crash of oil price, blaming the current situation on the over dependence on oil.

He also stated that his administration has taken steps to shore up the declining revenue facing  Kaduna State by blocking leakages, cutting down the cost of governance, boosting the industrial, education and agricultural sector among others.

The Governor equally blamed leakages in the system to the frustration encountered by many State Governments in fulfilling their campaign promises and asserted that the solution to the present financial crunch facing the nation lies in the diversification of the economy.