‘Restructuring Shouldn’t Be Driven By Political Expediency But Financial Viability’

The much-talked-about restructuring of the country should not be driven by political dependency but by economic and financial viability.
This was the submission of the President of the African Development Bank Group, Dr Akinwunmi Adesina, at the second term inaugural lecture of the Ondo State Governor, Rotimi Akeredolu, in Akure, the state capital.
Adesina said, “As a way out of the economic quagmire, much has been said about the need for restructuring.
“Restructuring should not be driven by political expediency, but by economic and financial viability for political viability.
“Surgeries are tough. They are better-done well, the first time. The resource found in each state or state groupings should belong to it. The constituent entities should pay federal taxes or royalties for those resources.
“The achievement of economically viable entities and the viability of the national entity requires constitutional changes to devolve more economic and fiscal powers to the states or regions.
“The stronger the states or regions, the stronger the federated units. In the process, our union would be renewed. Our union would be stronger.
“Our union would be equitable. Our union would be fully participatory. We must be audacious.
“Instead of a Federal Government of Nigeria, we could think of The United States of Nigeria or The Commonwealth of Nigeria. The old will pass away for the new.
“We would change the relational mindset between the states and Abuja: the fulcrum would be the states, while the centre would support them, not Lord it over them.
“With good governance and better accountability system, and a zero-tolerance for corruption, more economically stronger constituent states would emerge.
“We would unleash massive wealth across the states. It would be a Commonwealth. Wealth-for-all, not wealth-for-a-fee. A new Nigeria would arise. We will need all of us, not some of us,” he added.