Federalism and the Challenges of Socio-Economic Development in Nigeria
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Abstract
The enormous challenges bordering within the orbits of Nigeria’s state of underdevelopment and social upheavals in the midst of abundant mineral and human resources, since it gained independence in 1960, constitute the major discourse, debates, and writings of eminent
academic scholars in different conferences, workshops, and seminars in Nigeria. Having celebrated its 57th years of independence, the country appears to be on the verge of breaking up. This is due to relatively overarching issues, ranging from some ethnic and interest groups’ use of provocative words; the claim of hegemony over and above other groups; political maneuvering; unbridled quest for an all-inclusive restructuring; above all, the glamour for State autonomy through the adoption of fiscal federalism. These agitations are evidence on the activities of such groups as the Arewa youths, the Indigenous People of Biafran (IPOB) and the Niger-Delta Militants in Nigeria. The Conflict theory was used as the theoretical framework, secondary data was collected and used to ascertained the fundamental reasons behind Nigeria’s ineptitude to assuage the above anomalies. In the same vein, the paper ascertained whether the adoption and practicability of ‘fiscal federalism’ could foster socioeconomic stability, attract foreign investors, and enhance economic diversification through the exploration of indigenous resources, so as to, diminish the deplorable political conditions of the country. It further revealed that, stagnancy and over dependency on a single export product in Nigeria could only be eschewed by the practice of fiscal federalism. For if, this could present a formidable and inestimable socio-political and economic upturn in countries like the United States of America, Australia, such could as well be the lot of Nigeria. It holds that equity, fairness, and fair play are what Nigerians need to undo the unprecedented division and social disorder that are distorting and demeaning its effectiveness to become economically balanced.
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