THISDAYonline

The worsening state of the economy and the dwindling value of the Naira were some of the crucial issues on which the 36 state governors expressed deep concern yesterday at this month's National Economic Council meeting, which Vice President Atiku Abubakar presided over at the Presidential Villa, Abuja.

Although media men were not formally briefed on the outcome of the meeting, Alhaji Lam Adesina, Oyo State Governor who spoke to State House press corps disclosed that the governors were worried that the economy was not improving, but worsening.

The Central Bank Governor, Chief Joseph Sanusi, who was at the meeting was particularly tasked to devise short-term and long-term recovery measures.

"We had to direct the Central Bank to look into the causes of the downturn of the economy and that he should make sure the economy picks up again or gets better soon," Adesina said.

The Oyo State Governor further explained that the rising inflationary trend in the country and the weakening of the national currency are indices of an economy that is failing.

"We looked at the economy and scored it low," Adesina said, adding, "the rate of inflation is very high and the Naira has continued to go down."

Still on the economy, the governors were said to have also complained about the shortfall in the federation account. They noted, particularly, the 10 per cent drop in the amount of revenue received. The states were said to have received 85 per cent last month; but got 75 per cent this month.

Adesina said that the emerging trend may hamper the performance of the state governors especially in the payment of staff salaries and execution of other statutory functions.

"We have complained to the Federal Government about this, because there will be no money for salaries," he said.

Speaking in the same vein, Governor Bola Tinubu of Lagos State also criticised the economic policies of the nation, noting that the lack of implementation of the state -- local government joint account goes against the provision and the spirit of the constitution.

"The issue of joint local government account is a constitutional matter. We just have to lead as leaders by complying with the law and that is what is important. The joint account must be implemented according to the constitution," he said, adding, "if you don't want it, go and amend the constitution in accordance with due process."

He also disclosed that the NEC discussed the establishment of Industrial Development Bank, which will not only improve the health of the economy, but create job opportunities.

Tinubu said there were discussions on how to boost agricultural production and how to develop the solid mineral sector.

"We are not producing anything," he said.

Tinubu who commended Lagosians and Nigerians for the "massive outpour of love and emotion," for the victims of the Lagos bomb explosions, hinted that he will soon address the National Assembly on the federal neglect of Lagos State.

Amunitions dump exploded at Ikeja Cantonment January 27 causing the death of about 1000 people, who while running away in panic drowned at Oke Afa canal.

Tinubu also said that when the German Government moved its capital from Bonn to Berlin, it paid a lot of money for the continuous maintenance of Bonn.

Describing Lagos as the economic nerve centre of the country, Tinubu argued that it was wrong for the Federal Government to abandon the maintenance of the facilities and infrastructure in the state.

He stressed that, "Lagos requires special attention and it must be addressed squarely," adding that the late Gen. Murtala Muhammed had recommended special maintenance arrangement for the state after the creation of the FCT.

He denied being summoned to Abuja, as reported by some newspapers yesterday because of the ethnic clashes between Hausa and Yoruba in Idi-Araba in Lagos recently. About 100 people were killed and many houses were burnt in the crisis.

"It is not correct at all. It is a misinterpretation of my coming to Abuja," Tinubu explained, adding that "I came yesterday (Wednesday) because of the meeting with my fellow governors and today (yesterday) I have come for the National Economic Council meeting. There was no query or summons whatsoever."

He later made same point on arrival in Lagos.

"I was not summoned to Abuja. Nobody can summon me, not even the President. I hold dearly to democracy. I believe in democracy. There is no master-servant relationship in democracy", he affirmed at Murtala Muhammed Airport, Ikeja.

He stated that he was in Abuja on his own volition to brief the president on the security situation in Lagos and the need for the presidency to beef up security in the state to avert the resurgence of ethnic clashes.