A former Governor of Anambra State, Peter Obi, on Sunday also weighed into the current discourse about the VAT Amendment Bill being passed by Rivers and Lagos States and its attendant ripple effects.
According to Obi, the debate on fiscal federalism will trigger a much-needed development across the country since states will be able to maximize their potentials regarding revenue generation.
The former Governor made this call during an interview on Channels TV.
He said, “The country always concentrates on sharing, nobody is talking about how to generate income. Nobody is talking about production. The country is not productive, that is why we are preoccupied with sharing.
“If we are productive, it will be very easy for Nigeria to grow, be able to create jobs and do what others are doing.
“Every part of Nigeria has the potential to grow and compete and but we are not doing that.”
Peter Obi further noted that the country needs to invest more in its human capital rather than its over-reliance on oil while citing the recent status of Anambra as an oil-producing state.
“Oil is a dead asset. With the plans we had when I was in office, if it was followed by the next administration, Anambra would have generated way more than Nigeria generates from oil.
“Because when you talk about oil, how much are you (Nigeria) getting from oil? $18 billion, that’s all we are getting from oil.
“If you do these investments properly, pull your people out of poverty, you would see that the money you are talking in terms of what we are getting from oil is not much,” he said.
“I believe in fiscal federalism, it will help the country grow. At this point, the country is not growing and productivity is very low,” he added.