Rule of Law And Regionalism: Panacea For Nigeria’s Development – Yayi

 Rule of Law And Regionalism:  Panacea For Nigeria’s Development –  Yayi

Senator Solomon Adeola (APC, Lagos West) the Chairman of Senate Committee on Local Content has advocated adherence to the rule of law, political restructuring to empower the regions of Nigeria as well as infrastructural development as way forward for economic development in Nigeria as a whole.

In a paper he delivered over the weekend in London at the 5th UK Zonal Accountants” Conference with the theme:”Building Tomorrow’s Africa Today: Nigeria in Focus”, Senator Adeola stated that Nigeria need maximize its position as the largest economy in Africa and the 21st largest in the world for the benefit of its people adding that at present the size of our economy has not impacted on the majority of our people due to factors of infrastructure decay, weak institutions of government as well as a lopsided federation with power concentrated at the centre.

The senator, a Fellow of the Institute of Chartered Accountants(ICAN),said if various impediments bedeviling our educational, agricultural, infrastructural and power sectors are vigorously tackled then Nigeria will be “well on her way to becoming not only the largest economy in Africa but one of the most developed” with attendant benefits for its people.

“Modern and efficient infrastructure is key to economic development. Unfortunately energy, transportation, Internet costs in Africa are among the highest in the world. This lack of infrastructure makes it difficult for African markets to grow substantially. It also inhibits companies, including those in the United States from accessing these markets” he stated

In response to concerns of Nigeria accountants in United Kingdom, Senator Adeola said adherence to rule of law, political restructuring to a system of government that devolves power away from the Federal Government to regions would promote a more holistic development for all Nigeria than the current system of government with power and economic resources concentrated at the centre and not evenly distributed.

“Most of the enduring institutions in Nigeria were built under the Regional Governments, hence the understandable nostalgia in some quarters for the currently dysfunctional federal structure of Nigeria to revert to the regions of old” he averred.

He counseled that Nigerians venturing into politics as a vocation to have a “second address” in terms of belonging to a profession and a professional body that will provide means of livelihood after office adding that it is his second address as an accountant that makes him not to be desperate in contests for political offices over the years as he can always fall back on his profession.

“Even now, I aspire to be governor of Ogun state but I am not desperate to be. I believe I have something to offer based on my experiences in government at state and federal levels. I have something different to offer from what the current administration is doing which will be for the good of Ogun state. I want to bring in ideas we used in Lagos state that is working to Ogun state. But I am not desperate to be Ogun state governor as I have a second address as an accountant and always rely on God and people to determine my political future” he stated when asked about his political ambition.

Among those present at the occasion were Alhaji Ismaila Zakari, president of Institute of Chartered Accountant of Nigeria (ICAN), Mrs . Bim Osunsanmi, president of UK Chapter of ICAN and Mr. Shola Makinwa, Managing Partner Krypton Consulting, UK among others.


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