PRESIDENT of African Development Bank, AfDB, Dr. Akinwunmi Adesina, yesterday, lamented that Nigeria is not practicing true federalism, but fatherism.
“State governors now spend more time in Abuja than they do in their states, seeking the monthly federal manna. “This is federalism of fiscal dependency. It’s federalism that’s fiscally unhealthy for the states and the federal government. Because Nigeria depends on oil for over 70 per cent of government revenue, any decline in the price of oil creates fiscal and economic volatilities that reverberate across the states.
“Nigeria’s federalism doesn’t grow its constituent entities. It simply makes them perpetual dependent. “We tend to copy a system that is not well suited to our context. The United States that we copied from does not control resources at the state level. Instead, the states generate the bulk of their income from taxes.”
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