The current system of federal control of resources and revenue allocation is not only unfair but it is also counter productive as it takes away the incentive for states and local governments to develop the economies of their respective domains and contributing to national development in the process.

As it is today, over 90% of the money accruing to the federation account that is shared between three tiers of government comes from the oil producing states and Lagos state where over 70% of the corporate taxes and customs duty in the country is generated whilst some states are not contributing a kobo to the federation account yet they arrogantly and shamelessly feel a sense of entitlement because our poorly conceived constitution permits it.

For us to develop as a country and to stimulate healthy competition between our states and local government, the control of all resources and corporate taxes within a state should be ceded back to the states whilst they are made to pay an agreed percentage of the revenue they earn to the federal government whilst the federal government retains the control of customs duty but the states in which the duty is generated must also be paid a share in the duty collected in recognition of the state's infrastructure used in generating the revenue.

By so doing we will not only be restoring fairness to the management of our resources as a country, we will be creating incentives for our local and state governments to promote productive activities and investments in their bid to shore up their revenue instead of lazily going to Abuja every month to collect money they never contributed a kobo in making. We will also be integrating the informal sector which accounts for about 55% of our economy into the formal sector whilst increasing our national GDP by up to 100% within a period of five years.

Kunle Oshobi