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Nigeria is bleeding from a defective constitution – Punch Newspapers

Punch Newspapers
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Are you aware that the value of the total goods and services produced and captured formally in Nigeria (domestically) in Q1 of 2021 was N2,998,000,000,000.00/ $5,656,603,773.58?
If you annualise these quarterly receipts, (all things being equal), it will come to annualised productivity value of N11,992,000,000,000/$22.6billion.
Kindly also note that the total domestic production of goods and services in Nigeria in 2020 was formally captured to be N10.17tn or per capita productivity of N50,800 or N139 a day.
Extrapolating from the latest 2021, Q1 numbers  (based on the phoney population figure of 200 million), this simply translates to the very pitiable domestic per capita productivity of N59,960/$113.

This simply means that the total value of domestic goods and services produced  by every Nigerian in the whole of 2021 will amount to N59,960/$113 or N164/$0.30 per day .
The analysis above  demonstrates clearly  how impoverished,  unproductive,  beggarly and useless 99% of Nigerians have become under  the fiscal,  socio-economic, governance and resources production and distribution framework of the current 1999 feeding bottle concoction constitution.
Rather than  continue to make a mess of everyone in the system, by deliberately pushing a majority of Nigerians to parasitically leech and depend mainly on the crude oil from the Niger Delta and Value Added Tax from Lagos State, the President, Major General Muhammadu Buhari (retd.), 36 state governors, and members of the national and state assemblies, should quickly lean on the High Court ruling on VAT collection by states to totally RESTRUCTURE NIGERIA and return her to the 1960/1963 Republican Constitution, socio-economic and governance architecture.


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What the analysis above also  reveals and what should be uppermost in our minds now, if we are truly honest to ourselves, is to agree on how to devolve more powers,  resources and authority to the constituent units and the people and check the massive roguery and political banditry going in Nigeria since 1999. This will be done  in such a way and manner that can enable us to have a daily per capita productivity of goods and services of at least N2,000 a day or N720,000 a month by 2023/2024.

If we restructure today and return Nigeria  to the 1960/63 fiscal and governance framework that engendered productivity and healthy competition amongst the constituent units in the First Republic, by 2023/2024, Nigerians at home would be able to generate about N79,640,000,000,000/$150.2 billion if all the estimated adult working population of 110 million Nigerians are put to active productivity of goods and services within the system.
At a worst case scenario, even if we are able to put 50% of the working population to active productivity of goods and services, Nigerians at home will still be able to generate at least N39.8tn/$75.13bn annually.
Ten per cent income tax on this worst case scenario numbers will give us about N4.00tn/$7.5bn and N2.97tn in VAT alone.
Nigeria has the capacity to grow her economy annually by over N35tn/$80bn year on year, if we put in place that contemporaneous and productivity-engendering constitutional and fiscal architecture that our forebears, Nnamdi Azikiwe, Obafemi Awolowo, Ahmadu Bello, Anthony Enahoro etc signed unto in 1960.
If we cannot agree to work together,  let the six geopolitical zones be turn into regions and go their separate ways and stop this atmosphere, culture and fiscal framework of destitution,  death and misery we have created for a majority of us.

  • Dr Nnaemeka Obiaraeri, FICA, Ikoyi, Lagos State, 08134441140

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