The Deputy President of the Senate, Senator Ike Ekweremadu, has blamed Nigeria’s economic woes on wrong federal structure, which he said had predisposed the country to wealth sharing, indolence, and poor governance since the fall of the First Republic.
He reiterated that restructuring remained the true and lasting solution to the nation’s many woes, as it would promote wealth creation, productivity, good governance, and national development.
He made the assertions at the investiture of Dr. Omede Idris as the 15th President of the Association of Professional Bodies of Nigeria, APBN, in Abuja, Thursday night.
Ekweremadu, who said the investiture ceremony came at a most crucial time in the country’s recent history, regretted that the Nigerian economy easily lapsed into recession, while the nation continued to lament over fall in oil price in a knowledge-driven global economy.
He, therefore, expressed worries that calls and attempts to re-engineer the nation’s federalism through restructuring and injection of fiscal federalism had always been unheeded and unsuccessful.
