The Yoruba Council of Elders (YCE), has written to president Muhammadu Buhari, calling for the adoption of fiscal federalism in the country as a way of ending the current economic recession.
“To take Nigeria out of recession, the Yoruba Council of Elders otherwise known as Igbimo Agba Yoruba has suggested the adoption of fiscal federalism which will allow federating units to generate resources in their domains,” the body said in a communiqué signed by its Secretary General, Chief Idowu Sofola, SAN.
The council also congratulated all the South West governors for the outcome of their meeting held in Ibadan and it is particularly impressed with their determination to collaborate within the ambit of DAWN Development Agenda for Western Nigeria.
“We are asking them to pay special attention to agriculture and interstate Commerce.
“The council believed that fiscal federalism which will allow federating units to generate resources in their domains, paying taxes and royalty to the Federal Government will promote economic growth and take the country out of recession.”