Yoruba elders demand fiscal federalism as solution to recession

Yoruba elders demand fiscal federalism as solution to recession

Yoruba Council of Elders (YCE) also known as Igbimo Agba Yoruba, has called for fiscal federalism in Nigeria so that the different federating units would be allowed to generate resources in their area.

The group made the suggestion as a way to get Nigeria out of recession in a communique signed by its Secretary General, Chief Idowu Sofola (SAN), after a meeting in Ibadan that was chaired by the President General, General Adeyinka Adebayo (retd).

The YCE decried the economic situation of Nigeria and frowned at the inability of government’s Economic Team to respond positively at taming the ugly situation the country has found itself.

“Fiscal federalism, which will allow federating units generate resources in their domains, paying taxes and royalty to the Federal Government will promote economic growth and take the country out of recession,’’ YCE said.

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The group also suggested the Federal Government “commence as a matter of urgency, constitutional amendments to decentralise the Police, and security agencies, and also, corresponding review of the federal revenue allocation formula to empower federating units (states) to fulfill their obligations.

According to YCE, adopting the suggestion will help proffer solutions to various security threats in the country including, kidnapping, armed robbery and militancy in the South-South region, which are manifestations of a dysfunctional system.



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Ebere Ndukwu

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