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Viability of States in Nigeria should be our next focus

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Viability of States in Nigeria should be our next focus-

Viability of States in Nigeria should be our next focus-

Dr. Kayode Akinsola

 

 

 

Kayode Akinsola is Doctor of Business Laws and Corporate Governance, he speaks with our correspondent and task President Tinubu on a path to chart in revamping the Nigeria Economy.

 

1. There is a new political dawn and this time calls for more concerted efforts in the areas of generation of IGR, especially by State governments ,what is your suggestions on how this can be achieved ?

Akinsola: Without being economical with the truth, only four States in Nigeria can survive within six months with a recourse to the monthly federal allocation. In actual fact, some states in Nigeria cannot two months salaries and overhead of their monthly dues in their respective states. This has not only made the state Governors indolent, but less creative from looking inward as to the abundance of what could empower their financial independence. You will recall that former President Obasanjo refused to disburse the monthly allocation of the Lagos for several months, how many states could weather such storm? My suggestion on how their viability could be achieved is that the individual state must have their investment arm, which should be apolitical, such agency must be accorded with a status of common patrimony. Equally, there is no state in Nigeria with no natural or Human Resources, how to generate funds through these funnels should be considered to make their states buoyant and have more abundance of resources.

 

Viability of States in Nigeria should be our next focus-

 

 

2. The new Electiricity Generation and distribution Law signed into Law by President Bola Ahmed Tinubu us another policy that guarantees the capacity of the states to enhance the capacity of small and medium scale businesses ad well as industrial concerns, how do you think this will translate to goodies for Nigerians?

Akinsola: Without mining words, it very difficult to survive in we had continued on the old order. The Generation and easy Distribution of power is a good step in the right direction that was made by President Tinubu, and this should be embraced by the State Governors. The privatization and deregulation in the power sector started under the leadership of former President Obasanjo, and beyond the purchase of the National Electricity Power Authority (NEPA) or Power Holding Company of Nigeria (PHCN), the Capitalists in conjunction with States should tap into the new Laws in making electricity available to the SMEs, thus it is good development.

3. The need to increase the minimum wage for workers to cater for the shortfall of expenses for the minimum wage has been one if the raging issues in recent times do you think some states would be able to muscle up the capacity to pay what would be regarded as living wage ?

Akinsola: Truthfully, majority of the State governments cannot afford the minimum wage being demanded by the Labour congress, but when the workers too take a cursory look on what the political office holders are earning as emoluments, it is natural for them to agitate. The end point of all these increment is inflation, and this has started growing by the day.

4 What is your assessment of the current IGR projections for states and what should be done to jump-start things ?

Akinsola: Majority of the States are not generating enough IGR, atimes they inflate their IGR and one wonders the reason for their inability to meet up with their financial obligations. Beyond the Federal Allocation and State Taxes, there are other mechanisms that could be set in motion to increase the IGR of each state, depending on their potential and peculiarities.

5. Apart from electricity which is the most popular , what other way can the Federal government be enjoined to release more powers to states in order to be more viable?

Akinsola: Majority of the powers that are resident in the exclusive list in our constitution today, ought to have been relinquished to the State Governments. Items like Mining, Waterways and major taxes. By doing this, the state governments will have more earning capacity.

6. What are the factors that determine the economic viability of states ?

Akinsola: There are many of them, but I will mention just few. The business environment and governmental policies of each state are determining factors, other variables are availability of Skilled and unskilled workers, infrastructures within the state, natural resources and access to capital.

7. What is your opinion about the free flow of the naira which is a new policy of the Federal government through the CBN?

Akinsola: Though, it looks like a wrong policy, it remains one of the best decisions ever made by President Tinubu lately. With the free flow, many fiscal uncertainties will reduced, exporters will now earn more money on their exports, which in effect aids our GDP and brings deflation. Diaspora remittance as well as moping up of excess liquidity of Naira in our system.

For me, it would also boost the revenue of the government through additional remittances of the exchange rate and excess to the federation account by the Central Bank of Nigeria. The goodies in some of these policies will be felt in less than a year, not immediately.

8. How should the fuel subsidy accrual be managed to ensure that everyone benefits ?

Akinsola: Everyone cannot benefit from the proceeds of Subsidy instantly. Nigeria as a Nation has been servicing debts over the years, and one advantage of its removal (subsidy) is that it will lower our debt burdens. With such, we can then begin to further create enabling environments that aids foreign investment, job creation among others.

9. Do you support restructuring and in what form?

Akinsola: People have come to argue that Changing or suspending the current Constitution is the only panacea to restructuring, and I have consistently differ on this. If the President and State Governors could put few policies in place, I am sure the restructuring would take place immediately. We all know that the majority of budget goes to recurrent expenditure and we import more than we export among other issues. I am of a great conviction that the viability and sustainability of each state will surely berth a new wave of restructuring.

 

10. Who is Barrister Kayode Akinsola ?

Dr. Kayode Akinsola is the founding Partner of Queens Attorneys and teaches Law at the Chrisland University in Ogun State.

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Peter Obi Offers to Fulfill Bail Conditions for Dele Farotimi, Advocates Justice

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Peter Obi Offers to Fulfill Bail Conditions for Dele Farotimi, Advocates Justice

Peter Obi Offers to Fulfill Bail Conditions for Dele Farotimi, Advocates Justice

The global coordinator of the Obidient Movement has announced that Peter Obi, former presidential candidate and leader of the movement, has stepped forward to fulfill the bail conditions for human rights lawyer Dele Farotimi.

Farotimi, a prominent activist known for his bold stance against systemic issues in Nigeria, was recently granted ₦30 million bail by a Federal High Court following charges filed against him. The case has attracted significant public attention, with widespread support for Farotimi from various quarters.

In a statement, the Coordinator revealed that Obi expressed his gratitude to the judiciary and all stakeholders involved in the legal process. The former presidential candidate emphasized the importance of fairness, transparency, and the rule of law in resolving the matter.

The Obidient Movement, known for championing justice and accountability, has remained vocal in its support for Farotimi. The group reiterated its commitment to upholding the principles of justice and transparency in Nigeria’s judicial system.

The next hearing in Farotimi’s case is scheduled for January 2025, with supporters hopeful for a resolution that upholds the integrity of the legal process.

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Breaking: Speaker Obasa Debunks Allegation Of Spending N17b On Assembly Gate

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Breaking: Speaker Obasa Debunks Allegation Of Spending N17b On Assembly Gate

Breaking: Speaker Obasa Debunks Allegation Of Spending N17b On Assembly Gate

 

The Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, on Thursday described the allegation that the House spent N17 billion on the fixing of a gate as spurious and funny.

Breaking: Speaker Obasa Debunks Allegation Of Spending N17b On Assembly Gate

A self-proclaimed group, Lagos State Anti-Corruption Coalition, had accused the Assembly of spending the amount to construct a gate. The group also sought investigation of the claim.

Speaking at plenary, Dr. Obasa said the allegation stemmed from the fear of some people over 2027 which is still more than two years away.

Obasa further debunked the claim that the House spent N200 million on its recently organised 22nd thanksgiving service for staff.

“It is so funny. How much is the allocation of the Assembly in the whole year that we will decide to spend N17 billion on a gate? They even claimed that we expended 200 million on thanksgiving that did not hold.

“We are aware that at a period like this when we are approaching elections in 2027, we should expect such things. I think some people are scared and I don’t know why.

“This House did not and has not embarked on any such project. We are not that reckless. We had our thanksgiving last Friday and dignitaries from various parts of the State attended it,” the Speaker said.

Addressing further claims by the group about the alleged relationship between him and the chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, the Speaker denied attending the latter’s screening and confirmation by the National Assembly.

“They said that I was at the National Assembly when they were confirming the EFCC chairman. I want to believe that there are CCTV cameras at the National Assembly to identify those who attended the event. The press must have written about it too. So the group should do more to confirm if I was there.

“This is just to deny the allegations in the interest of the public and not the writers because the writers are not those we should be joining words with,” the Speaker said.

Earlier, the House, through its spokesperson, Hon. Stephen Ogundipe, had addressed the allegations noting that the Assembly bases its activities on integrity, transparency and accountability.

“It is ludicrous the claim about constituency intervention funds and constituency project funds and their handling by Speaker Mudashiru Obasa and Clerk of the House, Barr. Olalekan Onafeko as claimed by the group.

“One would have expected a self-acclaimed anti-corruption crusading group to do its groundwork before jumping across the fence with conviction that it hit a jackpot to malign an institution of repute in the name of politics.

“Simply put, the Lagos State House of Assembly does not have any such funds. The Assembly does not embark on constituency projects. Instead, once every year, the House holds stakeholders’ meetings simultaneously across the state where constituents have the opportunity to tell the lawmakers their expectations and make requests for the betterment of the state.

“These requests and expectations are compiled and sent to the executive arm of government for consideration as inputs in subsequent budgets. If this is what the group takes as constituency intervention or project funds, we are sure this explanation has given the required education, moreover, it is common knowledge that it is the responsibility of the Executive arm to execute such projects,” the earlier statement by Ogundipe read.

Eromosele Ebhomele
Chief Press Secretary to the Speaker of the Lagos State House of Assembly.

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Banwo & Ighodalo Threaten Legal Action Against APC Chairman Over Defamatory Allegations

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Banwo & Ighodalo Threaten Legal Action Against APC Chairman Over Defamatory Allegations

Banwo & Ighodalo Threaten Legal Action Against APC Chairman Over Defamatory Allegations

Renowned Nigerian law firm Banwo & Ighodalo is preparing to take legal action against Jarrett Tenebe, Acting Chairman of the All Progressives Congress (APC) in Edo State, over allegations described as defamatory and unfounded.

In a formal letter dated December 18, 2024, senior advocate Abimbola Akeredolu (SAN) accused Tenebe of making libelous claims against the firm’s founding partner, Mr. Asue Ighodalo. The allegations stem from a December 17 interview on TMC TV/Radio, during which Tenebe alleged that Mr. Ighodalo “stole 21 government vehicles” from the Edo State Government.

Despite a prior demand for an apology and retraction in a December 11 letter, Tenebe has reportedly failed to comply. Banwo & Ighodalo has now issued a three-day ultimatum for him to withdraw the statements or face formal legal proceedings.

In a related statement, the Team Asue Media Organisation (TAMO) categorically denied the accusations, labeling them a calculated smear campaign intended to discredit Mr. Ighodalo. The statement, signed by TAMO spokesperson Erhabor Emokpae, emphasized that Mr. Ighodalo has an unblemished record of public service. It further clarified that Alaghodaro, a private-sector-driven initiative chaired by Mr. Ighodalo, is committed to driving economic growth and investment in Edo State.

TAMO underscored Mr. Ighodalo’s integrity, noting that he has personally funded his expenses throughout his 16 years of public service, including his tenure as Chairman of Alaghodaro. The allegations of vehicle theft were described as baseless and absurd, with no evidence to substantiate them.

Banwo & Ighodalo has reiterated its commitment to pursuing all legal remedies should the defamatory statements not be retracted. The firm condemned the misuse of misinformation for political gain, warning that such actions undermine public trust and damage democratic institutions.

“We call on all parties to adhere to the principles of truth, integrity, and decency in public discourse,” the firm stated.

Should Tenebe fail to meet the ultimatum, the case is expected to proceed to court, with further developments anticipated in the coming days.

 

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