EDITORIAL: Governors And The Economy

TWO days ago the heads of the federating units were expected to meet in Abuja and amongst other pressing issues discuss the state of the economy. It is coming after the thirty-three points suggestion earlier proffered on resuscitating the economy. No earth-shaking pronouncements have so far come out of this endeavour.

This is not surprising. With elections taking place next year the political system to use football parlance is now in stoppage time. Whatever suggestions the governors had should have been tabled a long time ago. It’s all looking very belated now much like being wise after the event.

The inability to be proactive might be due to living up to to the adage that charity begins at home. Apart from a glaringly defective constitution which emphasises consumption above production the States as federating units also have defective structures, impediments largely of their own making.

The costs of governance at the level of the sub – nationals cannot be justified. Everywhere it’s the same established pattern – duplication, wastage and bureaucratic elephantises. The political  will to do anything about it is clearly not there and for a reason, the political economy is al anchored on maintaining a retinue of apparatchik otherwise termed ‘structures’.

This is no longer sustainable as the terms of trade have turned against the rentier economy.  Nothing of consequence can be done now but after next year’s election, there must be a reboot based on constitutional amendments to go back to a revenue production-driven framework. The empirical evidence is unambiguous there is no alternative.