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Published On: Tue, Apr 30th, 2019

Only fiscal federalism will save nigreria -ex speaker

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By Nosa Akenzua, Asaba

Nigeria at present requires urgent, effective return to Fiscal Federalism if it must break the current Jinx of abysmal failure and break away from the occasion of under development, the former Speaker, Delta State House of Assembly, Emmanuel Okoro said on Sunday.
Okoro who spoke to a group of Journalists including our correspondent in Asaba, said that until leadership of Nigeria takes the bold steps to actualize fiscal Federalism, all of Nigeria’s development efforts would end in failure.
He added that the current psuedo federalist Structure in operation in Nigeria had created a horrible Culture of dependency in the federating States and it was high time the Country’s elites took the right steps to amend the Constitution in favour of fiscal Federalism where federating States could harness their resources and Pay tax to the central government in Abuja.
According to him” By my assessment, every state has enough resources to attain its development goals in truly fiscal federalist system, and a critical part of the fiscal Federalism must also be the devolution of Power in favour of state and local government, such devolution is most desirable in agriculture, health and education which could be better handled by State and local governments”and emphasized that fiscal federalism would end not only the culture of undue dependency of local and state government on the federation account ( FA) for financial Sustenance, but also create and sustain the right Culture of healthy Competition among federating States as happened during the first Republic.
The former Speaker added that the dispensation of fiscal federalism should be augmented with the creation of state Police formation to tackle the growing incidences of insecurity across the country, Pointing out that state Police formations, given their localization and the benefits of adequate knowledge of the local environment, would be better placed to respond to local Security Challenges before they escalate hence saving Nigeria the huge material and other costs of having them escalate before deploying the military as it is now the trend.
,Meanwhile, the Asaba branch Controller, Central Bank of Nigeria ( CBN) Dr Iheadigwu Mark has Charged members of the Financial Inclusion State Steering committee stakeholders, Financial Service Providers in the state and the state government to be Committed towards reaching the financially excluded adult Citizens in the rival and riverine Communities through proper Sensitization and public awareness creation for the actualization of Vision 2020 agenda of the Apex Bank”s national financial Inclusion strategy and implementation.
Dr Iheadigwu Mark who spoke to Journalists in Asaba at the weekend on the activities of the CBN,commended the state government’s efforts of ensuring that Deltans were financially included by creating avenues for individuals in the rural areas to open account and access loans, FISSCO Members, Stakeholders and financial service Providers on their Commitment and informed them on the new templates from the FISSCO national Secretariat towards the achievement of a set goals on financial Inclusion.

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