Economic challenges: Gov Adeleke insists on power devolution

Osun State Governor, Ademola Adeleke has advocated for a devolution of power and financing to the state governments as a means of finding lasting solutions to the challenges of economic hardships, unemployment and hyperinflation facing the nation.

This suggestion formed part of Governor Adeleke’s remark at the convocation ceremony of Adeleke University, Ede, Osun State on Sunday.

While stating that the solution was devolution rather than centralisation of governance powers and responsibilities, Governor Adeleke called for more focus on economic federalism.

He added that it would deepen subnational prosperity and create an enabling environment for job creation and boost local capacity across the sectors.

“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.

“So the solution is more devolution rather than more centralisation of governance powers and responsibilities.”

While admitting that the graduates were leaving school at a turbulent economic period in the life of the nation, he advised them to take the crisis as an opportunity.

He also assured that the government was not resting on its oars but was working to address the parlous state of the economy.

He said, “You are to take the crisis as an opportunity. As challenging as Nigeria is today, it presents multiple options for those with entrepreneurial mindset.

“I task you to be innovative and enterprising. We must tap into the turbulence to build a future of prosperity.

“You may also want to note that governments at levels are working hard to address the parlous state of the economy.”

He added that, “we must continue to maintain national stability and unity. We can not escape the several issues facing us as a nation unless we harness our potential across the regions. But only when there is peace can we resolve the economic question.”

The Governor added that his administration would continue to support President Bola Tinubu as all levels of government grapple with the crisis at the moment.

Addressing the graduates, the Pro Chancellor of Adeleke University, Dr Deji Adeleke tasked them to sustain hope in the time tested reality that hard times would surely pass.

Adeleke warned that under no circumstances should they lose hope of a better tomorrow.