Yoruba Council of Elders (YCE), otherwise known as Igbimo Agba Yoruba, has suggested the adoption of fiscal federalism, which will allow federating units to generate resources in their domains, as a way out of the present recession.
In a communique signed by its Secretary-General, Chief Idowu Sofola, after an exhaustible deliberation in Ibadan, presided by the President-General, General Adeyinka Adebayo (retd), the group raised concern about the economy which has not responded positively to the efforts of the government’s economic team.
The council believed that “fiscal federalism, which will allow federating units to generate resources in their domains, paying taxes and royalty to the Federal Government, will promote economic growth and take the country out of recession.”
On the various threats to security of lives and property in the country, the group urged the “government to commence, as a matter of urgency, constitutional amendments to decentralise the Police and other security agencies, and also review the Federal Revenue Allocation formula to empower the federating units (states) to fulfil their obligations.”
YCE commended the “Federal Government on the progress made in securing peace in the North-East zone of Nigeria which has been under severe attack by the Boko Haram” and congratulated President Muhammadu Buhari on the return of some kidnapped Chibok girls.”
The group encouraged the president “to intensify action on the release of the remaining Chibok girls and full restoration of peace in the North-East.”
The council also congratulated all the South-West governors for the outcome of their meeting, held in Ibadan, and particularly “impressed with their determination to collaborate within the armpit of Development Agenda for Western Nigeria (DAWN) on economic activities.
It urged the governors to pay special attention to agricultural and interstate commerce.
The YCE added that it was happy the “governors have chosen to come together, in spite of political divisions, in the interest of the good people of the South-West.”
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