Nwobodo Chidiebere,a public affairs commentator based in Abuja, is of the view that the present fall in oil price, provides an opportunity to diversify the economy and review the bogus size of government...
Ronald W. Ragan, in his inaugural address as 40th President of the United States of America, defined the then economic crisis being faced by the US as "an economic affliction of great proportions". "We suffer from the longest and one of the worst sustained inflations in our national history", Ragan called it. "For decades we piled deficits upon deficits, mortgaging our future and our children's future for the temporal convenience of the present. To continue this long trend is to guarantee tremendous social, cultural, political, and economic upheavals". The mind-illuminating words of Ragan captured what the quintessential Deputy Senate President, Senator Ike Ekweremadu, had in a mind when he called for the review of Nigeria's "feeding bottle federalism", where the thirty-six states of the federation congregate in Abuja at the end of the month to suck from the proverbial feeding bottle--crude oil revenue.
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