Nigeria has thrived on wrong federal structure —Ekweremadu

AS the calls for the restructuring of Nigeria becomes more intense, the Deputy Senate President, Ike Ekweremadu, has admitted that the country has for long thrived on a wrong federal structure, therefore, wasted its yesteryears; lived with poor governance, extravagance and indolence induced by free money.
Ekweremadu also declared that the country is structured for wealth sharing and guzzling; rather than wealth creation and economic prosperity.
The deputy senate president, who was speaking at the investiture of Dr Omode Idris, as the President of Association of Professional Bodies of Nigeria (APBN), in Abuja, on Monday, said therefore, that the country is in dire need of urgent redemption; as it is already neck-deep in economic crisis as inflation has escalated; and therefore, in dire need of redemption very urgently.
Dr Idris was recently elected as the 15th president of APBN and Senator  Ekweremadu, was the chairman at the investiture ceremony which took place at the NAF Conference Centre, Abuja.
In his address,  he  said: “Permit me to further note that this investiture ceremony comes at a most crucial time in our recent history. Instructively, well-meaning Nigerians, including my humble self, have continued to warn, even long before now, that our nation is not structured for wealth creation and economic prosperity but for wealth sharing and guzzling. Otherwise, there should have been no reason to continue to rue the fall in oil price in a knowledge-driven global economy.
“It is a clear indication of how much we have thrived on a wrong federal structure and wasted our yesteryears. For too long, we have lived with poor governance, extravagance and indolence induced by free money.
“Today, the honeymoon is over. We must wake up to reality and retrace our steps. The country is already neck-deep in economic crisis, the recession bites even harder and inflation has escalated. It is needless to cry over pilot milk but I dare to add that we are a country in dire need of redemption.”
However, he said that with the topic of the investiture lecture: “Professionalism in the face of economic secession: Prospects and challenges,” and the array of the professional bodies that make up the APBN, “I see hope for our nation.”
The deputy senate president assured that the National Assembly on its part, will continue to work hard to ensure that legal frameworks guiding our electoral system conform to international best practices and standard, while also addressing our local challenges.
The deputy Vice Chancellor, Africa Business School, Abuja, Dr Anthony Ubani, who is the guest speaker, said the problem of Nigeria in real sense is leadership, not economic recession, adding that leadership  problem is the direct cause of economic recession in Nigeria.
Dr Ubani said: “Today, the credibility of governance institutions is the number one indicator that investors use in making their investment decisions. In other words,  if the rule of law, an independent legislature, a free press, a vibrant civil society, effective regulatory institutions,  among others, cannot be guaranteed in Nigeria, then, it will be difficult if not impossible to attract the much needed foreign and local investments that are urgently required to reflate Nigeria’s economy and reverse the current economic recession.”
He  said that for professionals, economic recession is not a curse but an opportunity. “It is an opportunity to harness the powers of professionalism to uncover the endless possibilities and potential for innovation and growth in the Nigerian economy.”