Governor Ademola Adeleke of Osun State, says devolution of power and responsibility to the State is a solution to the current economic challenge in the country.
Speaking on Sunday at the 10th undergraduate and 6th postgraduate convocation of Adeleke University, Ede in Osun State, Governor Adeleke said more centralization of duties the State can handle could worsen the situation.
Urging the graduating students to see the present economic hardship as an opportunity to breakthrough as entrepreneurs, he said both the Federal and State governments are regularly brainstorming on solving the current economic crisis.
He said: “You may also want to note that governments, at levels, are working hard to address the parlous state of the economy.
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“At the National Economic Council meetings, both the Federal and the State governments regularly brainstorm on finding solutions to the economic hardship, unemployment, and hyperinflation facing the nation. Several options are being experimented on.
“For us as a state, we believe the solution lies in the devolution of powers and financing to the state governments. There is an urgent need to move many items on the exclusive legislative list to the concurrent list. The states are better positioned to handle many items for which the centre is presently responsible.
“So, the solution is more devolution rather than more centralisation of governance powers and responsibilities. We must as a nation focus on economic federalism. This will deepen subnational prosperity and create an enabling environment for job creation and boost local capacity across the sectors.”
