Fiscal Federalism is not new in Nigeria. This was the policy that was in practice after independence. Fiscal Federalism is a situation where each Governor will take control and management of his state resources and apply them in their peculiar setting.
Today, we are hearing of Chief Obafemi Awolowo , Sir Ahmadu Bello and Azikwe of Africa. It was because of Fiscal Federalism that allowed each of them to do wonders. Chief Obafemi Awolowo implemented Free Education in the western region of which people at that time benefitted from. The Legacies of Chief Obafemi Awolowo live with him forever. Sir Ahmadu Bello concentrated on production of cotton, groundnut among other things. During his regime, we saw pyramids of groundnuts stacked as high as 30ft. In the East, palm produce, rubber plantation and the enviable running of coal in Enugu. Nigeria was prosperous even without oil.
America today that we copy her Democracy is practicing Fiscal Federalism and the Governors there today are actually the dictators of their economy. Each state taking advantage of economic scale of preference. Each state producing what they have maximally. The fact is that this America states don't even have as much resources as what Nigeria possesses.
The glamour and propensity to occupy the Aso-Rock by fire and by force by each ethnic region or person would subside or die under Fiscal Federalism.
Osun state for instance, will become viable and self-sufficient, if Governor Ademola Adeleke has the incentive to tap the resources of Osun state. The Gold deposit at Ilesha alone when tapped can turn the state around. Chief Obafemi Awolowo Legacy of Agricultural development is begging for anchor. Same for all the states. But will Asiwaju Bola Ahmed Tinubu give us true Fiscal Federalism. The only Legacy that this present administration can give us is Fiscal Federalism.
We need a new road map in Nigeria for recovery and the only way out is true Fiscal Federalism.
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