OTHER - 12 JUN 2021

Top State articles on Stears Business

Top State articles on Stears Business
Top State articles on Stears Business

What is Nigeria?

“A group of states” is a fair answer. In fact, Section 2 (2) of our Constitution says Nigeria is a Federation consisting of states and a Federal Capital Territory.

Now, what do we know about each of these states?

Most people are well versed about where they reside or work. While many Abuja residents can get to work in less than 30 minutes, Lagosians will tell you they spend half of their time in traffic. But what makes these experiences different even when the nationality remains the same? 

Several factors do. And we’ve written stories that break them down.

Today, we have selected a range of articles that focus on economic attributes which can explain your experiences in some of these states.

There is no better way to start the list than with a story that paints a holistic financial picture of all Nigeria’s states.
 

1. Why Nigerian states are broke

You’ve probably heard how most people in Nigeria want to work in Lagos because that is the place to “hammer”. Most of its 20 million citizens have escaped poverty. In terms of internally generated funds, it’s the country’s richest state, so no surprise there. Fellow governors might not even flinch if Lagos’ governor fails to attend a Federal Account Allocation Committee (FAAC) meeting. 

But that’s the end of the list. Lagos is the only member of the rich state club in Nigeria. Most of the other states are essentially broke and barely make enough funds to pay their workers on their own. Osun state workers know this struggle. Why is this so? 

Read the full article here

 

2. Anti-business Lagos (Part 2): How other states can reposition to win

Despite the wealth in Lagos, the irony is that policies that can keep businesses thriving have become scarce and far between. Africa’s choice city for investments has become hostile. And as businesses leave, the sad part is that they hardly go to other states in the country. Most of them decide to leave Nigeria totally, leading to a steep drop in foreign direct investment.

This article breaks down the bargaining chips that Lagos has thrown away and how other states can take advantage of the situation.

Read the full article here 
 

 3. Lagos state vs businesses: One tax too many?

This article also dwells on the matter of Lagos and its unfriendly nature towards businesses. One school of thought says the private sector created the wealth that Lagos boasts of today and that the state is now biting the hands that feed it by imposing too many taxes. Others believe that the state acquired its wealth by providing facilities like security or infrastructure for businesses to thrive. 

Both are right. But what this article does, is use Lagos to show how public policies should be introduced to preserve the relationship between the state and its firms.

Read the full article here
 


4. Can Ogun state be the next Lagos?

Surrounding Lagos are rustic cities from Sango to Ibafo and Ota. All these cities belong to Ogun state, which is well located to compete for as much foreign and national investment. So it is only logical to examine the state’s potential as an investment destination. 

From the available infrastructure to human and natural resources, this story assesses if Ogun has what it takes to match Lagos’ economic status.

Read the full article here 

 

5. What if Lagos had its own electricity grid?

Electricity is a key infrastructure that attracts economic activities to an area. So when Texas had the power outage earlier this year, we thought of what it would take for a state as illustrious as Lagos to own its own power grid. Afterall, it has some things going for it. For instance, Lagos residents are more likely to pay for their electricity bills than people living in other active commercial cities like Jos, Port Harcourt or Kaduna. 

So can the state go for it? Well, the answer is a little more complicated than a straightforward yes or a no. From state laws to political bottlenecks, here is a story to guide you through the complexities. 

Read the full article here 

 

6. COVID-19 in Nigeria: State Response Index 

The global pandemic has continued to rage on for more than one year. How did different states respond? We created this index last year to help you track.

Read the full article here 

 

7. How Abuja illustrates Nigeria’s deep inequality

“I had never seen infrastructure so perfect (even the road signs didn’t have any damages on them—a standard sight in Lagos),” writes the author of this next piece. Although the major focus is not really infrastructure, the contrast between how developed some states are from others highlights a problem we should tackle more seriously—inequality.

Here is another quote that illustrates how unequal Nigeria is: “The country’s five richest men—worth $29.9 billion—could lift 86 million Nigerians out of extreme poverty for one year”.

Read the full article here 

 

8. The constitutional route to a state police force

Insecurity has never been more pronounced in the country as it is today. From the rising kidnappings to the farmer/herder clashes and the Boko Haram killings, state governments have started seeking a way to protect their territories. They’ve touted state policing as a solution but the constitution says no other police force shall be established for the Federation or any part thereof, asides from the Nigeria Police Force (NPF).

So this piece breaks down what it takes to change this rule and why the debate to change it has been ongoing for several years with no real action.

Read the full article here 

 

9. Kaduna’s revenue momentum: Can it last?


In one or two of the stories on this list, you’ve learnt about Lagos’ impressive Internally Generated Revenue. But there are other states taking steps to grow their income such as Oyo, Ogun and especially Kaduna. In the last seven years, the state grew its internally generated revenue four times over to reach ₦51 billion from ₦13 billion in 2014. However, the northern state has its fair share of challenges, from insecurity to high unemployment and poverty levels.

In light of this, an assessment on the case for investing and doing business in the state became necessary. 

Read the full article here 

 

10. Nigerian states and the quest for self-sufficiency

 

We end this list with a free to read piece analysing solutions for states to be self-sufficient in the wake of dwindling federal allocations. The article touches on ideas around uniting resources and finding ways to collaborate better with each other. If done, such plans might just be the solution to providing a much-needed robust financial profile for more states asides from Lagos. 

 Read the full article here 

 


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