Managing Director of Financial Derivatives Company Limited, Bismarck Rewane, has said funding 36 states is too expensive for Nigeria.
Rewane made this statement on Wednesday while speaking on Politics Today, a programme on Channels Television, on the occasion of Nigeria’s 65th Independence anniversary.
The economist argued that Nigeria spends excessively on administration.
“Nigeria cannot afford to have 36 states. It’s unviable. We spend too much money administering.
“This country is twice the size of California in terms of geographical space, and the number of people administering this country in terms of 774 local governments, 36 states, the Federal Capital Territory, FCT. Managing what?” he stated.
He added: “Take for instance, the old Western region is now split into several states being managed by governors, commissioners, special assistants and the likes. I think you have to rethink to restructure, whether you will go back to regionalism or not.”
Rewane’s position is coming amid campaigns for the creation of new states in different geo-political zones across the country.
