Reconstructing Nigeria for Prosperity Part Deux
In the second series of his three part article the former Central Bank of Nigeria (CBN) governor and professor emeritus goes for broke. He quickly identifies the need for fiscal federalism, decentralisation of power (to have a weaker center and stronger regions) and the unsustainability of the present system. In essence he argues that if the 1963 constitution was not broken then why fix it? This line of reasoning has its merits and indeed some Nigerians have been quick to praise his erudite propositions. While I do not deny the sheer audacity of his ideas or the need for change it is vital that we all understand what he means by "competitive federalism, multi-speed Nigeria and subsidiarity". In a multi-speed Nigeria some regions will definitely be left behind which is true of life. Even kids born in the same family often end up at different destinations. However removing the "feeding bottle" in this case is akin to disowning this child and could mean some ki...