‎“Nigeria’s 36 States Unviable” – Economist Expert Bismarck Rewane Says ‎

‎In his recent appearance on Politics Today, renowned economist and Managing Director of Financial Derivatives Company Limited, Bismarck Rewane, raised a critical concern for the economic sustainability of Nigeria – the country simply cannot afford to maintain 36 states at present. With a determined tone, Rewane highlighted the excessive spending on administration in the country and called for urgent action to restructure the current state system.

‎Nigeria, with a population of over 200 million people and a land area twice the size of California, currently operates with 36 states and 774 local governments. This means a vast number of governors, commissioners, special assistants and other government officials are tasked with managing the nation’s affairs, resulting in a heavy financial burden on the country.

‎According to Rewane, this excessive spending on administration is unsustainable and a major obstacle to the country’s economic growth. He emphasized the need for a critical rethink on the current state structure, suggesting a move towards regionalism or a reduction in the number of states as potential solutions.

‎While addressing the issue of regionalism, Rewane pointed to the old Western region, which was split into several states, now managed by multiple governors and their administrative teams. He questioned the rationale behind having multiple states with similar resources and demographics, leading to duplication of efforts and wastage of resources.

‎His call for restructuring is not new, as it has been a topic of national discourse for decades. However, with Nigeria facing economic challenges and a growing population, the urgency for action is now more evident than ever. As the country strives to boost its economy and improve the standard of living for its citizens, it is crucial to reevaluate its current state structure and make necessary adjustments to promote economic growth and sustainability.

‎With his expertise in the financial sector, Rewane’s statement serves as a clarion call to the government and all stakeholders to take a critical look at the country’s state structure and begin making necessary changes to promote efficiency and reduce expenses. As the saying goes, “a stitch in time saves nine,” and it is high time Nigeria took the bold step towards cutting costs and promoting economic growth.

‎In conclusion, Bismarck Rewane’s interview on Politics Today has sparked a much-needed conversation on the viability of Nigeria’s current state system. As the country faces economic challenges, it is essential to heed his advice and take steps towards a more efficient and cost-effective state structure. Only then can the country truly move towards sustainable economic growth and development.