Nigeria’s structure against wealth creation, says Ekweremadu

The Deputy Senate President, Ike Ekweremadu has described the present structure of Nigeria as anti-creation of the citizenry. He said that the present structure promotes wealth sharing rather than empowering the citizen’s economic prosperity. Ekweremadu argued that Nigeria had wasted its future on the altar of federalism that is largely based on poor governance, extravagance and indolence induced by free money.

The Deputy Senate President, who was speaking at the Investiture of Dr. Omode Idris as the President of Association of Professional Bodies of Nigeria (APBN), Thursday night in Abuja, noted that Nigeria is in deep economic crisis that needs urgent redemption. The Deputy Senate President said: “Instructively, well-meaning Nigerians, including my humble self, have continued to warn, even long before now, that our nation is not structured for wealth creation and economic prosperity, but for wealth sharing and guzzling.

Otherwise, there should have been no reason to continue to rue the fall in oil price in a knowledge-driven global economy.

“It is a clear indication of how much we have thrived on a wrong federal structure and wasted our yesteryear. For too long, we have lived with poor governance, extravagance and indolence induced by free money.

‘’Today, the honeymoon is over. We must wake up to reality and retrace our steps. The country is already neck-deep in economic crisis, the recession bites even harder and inflation has escalated. It is needless to cry over pilot milk, but I dare to add that we are a country in dire need of redemption and this redemption must also start from within,” said.

He observed that the topic of the investiture tagged, “Professionalism in the face of economic secession: Prospects and challenges,” and the array of the professional bodies that make up the APBN reinforces a renew hope for the nation.

The Deputy Senate President assured that the National Assembly on its part, will continue to work hard to ensure that legal frameworks guiding our electoral system conform to international best practices and standards, while also addressing our local challenges.