Greener Journal of Economics and Accountancy Vol. 6 (2), pp. 026-042, September 2017
ISSN: 2354-2357 © 2017 Greener Journals
Manuscript Number: 090417119
‘True’ Federalism in a well-structured Nigeria: The Panacea to her Economic Development Challenges
Nwaeze, Nnamdi Chinwendu
Department of Economics, University of Port Harcourt
Nigeria is bedeviled with enormous economic and national developmental challenges. These challenges include but not limited to political instability, extreme poverty, high rate of unemployment, low and unstable economic growth, dearth of infrastructure and colossal depreciation of the Naira; others include militancy, regional agitations and/or resentment, insurgency, and corruption. This paper is a theoretical attempt to adduce reasons why Nigeria has not made meaningful economic and national developmental progress. The position of this paper, therefore, is that Nigeria as it is presently constituted is suffering from at least three major deformities; political, economic and social. ‘True’ Federalism refers to a political arrangement between governments whereby powers of government within the country are shared between a national country wide governments and federating units in such a way that each exist as a government separately and independently from the others. Federal political orders are therefore, most desirable as an interesting solutions to accommodate differences among populations divided by ethnic, economic or cultural cleavages like Nigeria. This paper therefore concludes that Nigeria’s version of Federalism having been distorted historically, politically, socially and economically, is the bane of her economic development as it breeds instability, corruption, unproductive consumption and laziness in her political economy. As a consequence, therefore, conventional economic theories and policies may not be effective to remedy the enormity of her developmental challenges, without pulling down the entire architecture of her current political economy. The paper recommends holistic revolution of Nigeria’s political economy by enacting a new and true Federalist Constitution that will enshrine state or zonal independence and autonomy in terms of government powers and economic resources. This would restore federal stability and healthy competition which are catalysts to economic and national development.
Keywords: Political economy, federalism, economic development, corruption, political order, instability, deformity and extreme poverty.
Adesina, D. (2017, January 9). Nigeria: A Case for True Federalism. Thisday Newspaper. Retrieved from http://www.thisdaylive.com/index.php/2017/01/09/nigeria-a-case-for-true-federalism/.
Akande, B. (2017a, July 25). Replace 1999 Constitution with 1963 Republican Constitution. The Punch Newspapers. Retrieved from http://punchng.com/replace-1999-constitution-with-1963-republican-constitution.
Akande, B. (2017b, July 01). Monetization of Politics is Eroding our Political System. The Punch Newspapers. Retrieved from http://punchng.com/monetization-of-politics-is-eroding-our-political-system.
Amasike, U. (2017, July 17). Non-oil Export and Federalism. The Nation, p.18.
Babalola, A. (2017, July 2). FG Should Restructure Nigeria before next Election. The Punch Newspaper. Retrieved from http://punchng.com/fg-should-restructure-nigeria-before-the-next-election.
Central Bank of Nigeria. (2015). Statistical Bulletin. CBN, Abuja.
Debt Management Office. (Various). Public Debt Outstanding. Retrieved from https://www.dmo.gov.ng
Elazar, B. (1987). Exploring Federalism. Tuscaloosa: University of Alabama Press
Federal Republic of Nigeria (1999). Constitution.
Jhinghan, M.L., M. Girija and Sasikala, L. (2012). History of Economic Thought. Third edition. Vrinda Publications (P), New Delhi, India.
Jhinghan, M.L. (2011). The Economics of Development and Planning. 40th. Vrinda Publications (P), New Delhi, India.
Keynes, J. M. (1936). The General Theory of Employment, Interest Rate and Money: London: Macmillian.
Moodle (2014). Federalism. Retrieved from http://plato.stanford.edu/entries/federalism
National Bureau of Statistics (2017). National Corruption Survey. Retrieved from http://www.nigerianstat.gov.ng
Ndiyo, N.A. (2008). Poverty to Sustainable Development (A Community Based Approach). University of Calabar Printing Press, Calabar.
Nwabueze, B.O. (1983). Federalism in Nigeria under the Presidential Constitution. Sweet and Maxwell, London.
Okowa, W.J. (1996). How the Tropics Underdeveloped the Negros: A Questioning Theory of Development. Paragraphics, Port Harcourt.
Okowa, W.J. (1994). Oil, Systemic Corruption, Abdulistic Capitalism and Nigerian Development Policy: A Political Economy. Paragraphics, Port Harcourt.
Ohale, L and J.I Onyema (2001). Foundations of Macroeconomics. Springfield Publishers, Nigeria.
Oladesu, E. (2017, August 1). Ironsi: Genesis of Lopsided Federalism. The Nation, p.31
Ojo, G. (2017, July 18). Travails of Federalism. The Nation, p.20.
Todaro, M. P. and Smith, S. C. (2011). Economic Development. 11th edition. Pearson Education Limited, Edinburgh Gale, England.
Watts, R.L. (1999). Federalism, Federal Political Systems, and Federations. Annual Review of Political Science; 1: 117-37.