Political economy: Let’s talk about it - Punch Newspapers

’ and it is as important as any of the earlier ones, or the ones that I have called attention to, in the last two weeks. Of course, there are many more. There is the issue of debt and the debt trap; the issue of poverty and affluence; the fuel subsidy and citizens’ hardship; the use of security and insecurity, whose modus operandi cannot be discussed in the open, and many urgent and not-so-urgent issues that require attention and discussion.

Concern on fiscal federalism has remained a knotty talking point for many years, particularly after state governance structure substituted regional structure and the military unitary mode of governance became well entrenched. But we have run a democracy, or a semblance of it, for over 20 years for the first time in the history of Nigeria and the time to start dismantling centralised governance structure is now.

We have to talk about strong or weak centre and revenue generation. The present laws on fiscal federalism encourage laziness and manipulation thus requiring fundamental changes. Let us talk about what we want since the legislature that is supposed to do so is concerned about other things.

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