There is no way Nigeria can advance economically without fiscal federalism. Just as we had the fastest development rate when the nation was organized around regions, fiscal federalism will make it possible for Nigeria to make decisions based on facts, and comparative advantages in the nation, over stupid political calculus.
Yes, we can build a port and decide NOT to use it when at the same time we are overloading Lagos: “In a startling revelation, Lumati Festus, the manager of the Calabar Port, has disclosed that the port has languished in obscurity, devoid of any container vessels for the past quarter-century.”
Indeed, a working port in Calabar will make the South South, South East and North East corridors of Nigeria to save money on logistics due to improved supply chain and cost competitiveness. But again, Nigeria likes to score own-goals, and that is very unfortunate!
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I continue to hope that the Senate President will help to build a deep seaport in Akwa Ibom.
Greetings! I am writing to send this reminder that We The People of Southeast and Southsouth are expecting you to use your influence to make a DEEP seaport possible in either Akwa Ibom state or Cross River state. I write this with the full understanding that you have the capacity to deliver this for Nigeria.
A DEEP seaport in any of these states will make Nigeria more efficient. Transporting a container from Ibom, Akwa Ibom, to Maiduguri will be cheaper by 30% than from Lagos to the same destination. In short, if you model the routes, it is far cheaper to move items from Akwa Ibom/Cross River to Southeast and the Northeastern corridors of the nation, compared with moving everything from Lagos.
There is no way Nigeria can advance economically without fiscal federalism. Just as we had the fastest development rate when the nation was organized around regions, fiscal federalism will make it possible for Nigeria to make decisions based on facts, and comparative advantages… pic.twitter.com/2sYKql3LY1
— Ndubuisi Ekekwe (@ndekekwe) April 27, 2024
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