To take Nigeria out of recession, the Yoruba Council of Elders otherwise known as Igbimo Agba Yoruba has suggested the adoption of fiscal federalism which will allow federating units to generate resources in their domains.
In a communique endorsed by its Secretary- General, Chief Idowu Sofola (SAN) after an exhaustible deliberation in Ibadan presided by the President- General, General Adeyinka Adebayo (Rtd), the group raised concern about the economy which has not responded positively to the efforts of the government 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 the security in the country like , “ kidnapping ,armed robbery and militancy in the South South region which to the council are “manifestations of a dysfunctional”, the group urged the “Government to commence as a matter of urgency constitutional amendments to decentralize the Police, and the Security Agencies, and also corresponding review of the Federal revenue Allocation formula to empower the federating units (states) to fulfill their obligations”.
YCE commended the “Federal government on the progress made securing peace in the North East Zone of Nigeria which has been under severe attack by Boko Haram”, and congratulated “Mr. President on the return of some kidnapped Chibok girls” and further encouraged him “ 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) for economic activities for the progress of the zone”,tasking them “to pay special attention to Agricultural and Interstate Commerce.”
The YCE added it was happy that the “Governors have chosen to come together inspite of political divisions and in the interest of the good people of the South West”, as well as encouraging them “to meet regularly and work as one unit for the people of the zone”.