The Senator representing Lagos West Senatorial district, and Chairman, Committee on Local Content Senator Solomon Adeola Olamilekan has advocated strict adhere to the rule of law and the introduction of regional government as a way to developing the nation’s economy.
By so doing, he posited, each region would have political powers to develop its infrastructure and the people based on peculiarities of the region.
He asserted that the development would narturally create a template for inter regional competitions, thereby, making it nearly impossible for any regional leader to misappropriate resources.
In a paper he delivered in London at the 5th UK Zonal Accountants Conference with the theme:”BuildingTomorrow’s Africa Today: Nigeria in Focus”, which was made available to DAILY POST, Adeola stated that Nigeria needed to maximize its position as the largest economy in Africa and the 21st largest in the world for the benefit of its people.
The lawmaker said, the size of Nigeria’s economy and its people was overstressing central governance, adding that the federal could no longer cope with infrastructural demands.
“The government at present because of 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.
“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.