Ex-Labour Leader Prescribes Wealth Creation For Fiscal Federalism

Former Kwara Chairman of the Nigeria Labour Congress (NLC), Mr Emmanuel Aiyeoribe, on Tuesday said that only sustainable wealth creation by government at the state level would ensure fiscal federalism.

He said that state governments’ total dependence on the monthly statutory allocations could stagnate economic development.

Aiyeoribe told our correspondent that state governments were not maximising effectively their diverse potential to fast-track economic development.

“The creation of wealth by each state for development is the shortest route to fiscal federation, not the routine sharing of the nation’s oil revenue.

“When states are able to create wealth and are self-sustaining, there will be little dependence on federal allocation,” he said.

Aiyeoribe also urged the Federal Government to leverage national electricity supply and provide functional rail transportation.

According to him, sustainable power and effective railway remains the major key in transforming states and rural economy.

He said that the ongoing Federal Government rehabilitation of the rail system in some parts of the country was commendable, stressing that the gesture should be extended across the country to fast-track economic development.