News

October 3, 2011

Soveriegn Wealth Funds: Assault on federalism – Aregbesola

BY GBENGA OLARINOYE
OSOGBO— GOVERNOR Rauf Aregbesola of Osun State, has described  the  controversial sovereign wealth fund scheme of the federal government as a direct assault on the country’s federal system of government.

The Governor, in a state broadcast on the occasion of the 51st Independence anniversary, said the Federal Government could not arrogate to itself resources that should belong to the states under the guise of the Sovereign Wealth Funds.

His words: “The federal status of the nation has been under severe assault as our governance structure is increasingly assuming a unitary form by default. The proper name of the country is Federal Republic of Nigeria, but this has been shortened to Nigeria in order to deny it of its federal status.

The Sovereign Wealth Fund is a direct assault on our federal system of government and must be stopped forthwith. We must all rise to effect a reversal of this anomaly and demand a proper federal structure, politically, fiscally and organically.

“A matter that is of utmost concern to all and sundry is the helplessness of the Federal Government and its agencies under the present leadership in the face of dire security challenges.

At least, in the past one year, if we are counting from the bomb blasts that killed scores of people during the 50th independence anniversary in Abuja, Nigeria and her people have been in the throes of horrendous attacks and armed banditry.

Security agents, political office holders, congregants at political campaigns and rallies, innocent citizens and peace workers have been killed by terrorists in cold blood while revered places like police headquarters, stations and United Nations building in Abuja have been attacked.”

The governor assured the people of Osun State that his administration had made adequate provisions to ensure protection of lives and property, saying five Armoured Personnel Carriers, APC, had been ordered to assist security agencies prevent bandits from having any root in Osun.

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