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| Chief Nnia Nwodo, President General, Ohanaeze Ndigbo |
Reviewing
the country’s economic growth model against its increasing population and the
reliance by various state governments for their survival, the renowned
economist and lawyer stated that the present arrangement on sharing of
government revenue must give way to a new structure that would challenge and
drive productivity in different regions across the country.
To
achieve this, the youngest Nigerian to be a minister stated that efforts must
be geared towards constitutional restructuring which must take the country back
to something similar to what was obtainable in 1963. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
He
said: “This new model must take into account that
factors driving productivity in today’s world are no longer driven by fossil
oil rather the proliferation of a knowledge-based economy. The restructuring of
Nigeria into smaller and independent federating units and the devolution of
powers to these federating units to control exclusively their human capital
development, mineral resources, agriculture and power is the only way to
salvage our fledgling economy.
“Restructuring will devote attention to the new wealth area; promote
competition and productivity as the new federating units struggle to survive.
It will drastically reduce corruption as the large federal parastatals which
gulp government revenue for little or no impact dissolves and give way to small
and viable organs in the new federating units.
“Those campaigning against restructuring in Nigeria have painted an
unfortunate and untrue picture that those of us in support of restructuring are
doing so in order to deny the Northern states who have not yet any proven oil
reserves of the ability to survive. This is unfortunate. The new model we
propose for Nigeria recognises that revenue in the world today is promoted by
two main sources namely, human capital development leveraging on technology to
drive the critical sectors of the economy; and agriculture. Ten years ago, the
top ten companies in the world were the likes of Exxon Mobil, Shell, and Total.
Today the top eight companies in the world are represented by technology
related companies. They include Apple, Microsoft, Google, Facebook, and
Amazon.”
Lending
credence to the call for restructuring, the Ike Ukehe insisted that it would
make regions of the country economic giants as they would now concentrate in
the production of agricultural products where they have comparative advantage
than the current reliance on oil, whose revenue is now being threatened by
modern technologies. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
“Our analysis here must be viewed from the background that datelines
have been fixed by OECD countries and China for the cessation of production of
automobiles and machines dependent on fossil oil. This development and the new
technology for production of shale oil in the United States have made world
dependence on Nigeria’s crude oil a rapidly declining phenomenon,” he said.
Speaking
on the theme, “Economic implications of a restructured Nigeria” to mark this
year’s annual lecture of the Enugu State University of Science and Technology
(ESUT) Business School, in Enugu, the erstwhile minister of information and
great orator noticed that the adverse economic situation of the country has
made the youths destitute and without hope for a better future and have
therefore become restive. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
“The politically conscious ones amongst them have evolved into
self-determination groups some of which include, IPOB, MASSOB, YELICOM, Arewa
Youths, Niger Delta Republic and Middle Belt Republic. Of these groups IPOB and
Boko Haram have been designated as terrorist organisations by the Federal
Government,” he
submitted.
He
suggested the need for the country to embrace restructuring as its last hope as
it approaches the general elections, stressing that it might be dangerous
should the call be ignored. (Guardian)
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