Sanni cites development of subnational economies, states as catalysts for Nigeria’s growth

By Mosunmola Ayobami, Ilorin

Prominent businessman and media entrepreneur, Araba Femi Sanni, has renewed calls for a stronger focus on developing Nigeria’s subnational economies, insisting that the empowerment of states is essential for national growth, security and investment.

Sanni, the chairman of the Stafolga Group and Flow FM, spoke with journalists at the Ilorin International Airport on Monday where he stressed that Nigeria’s economic strength depends largely on the independence of states.

Drawing from his experience in private enterprise and interactions across several global business environments, Sanni said most thriving countries depend largely on thriving multiple subnational economies.

According to him, Nigeria currently has only a few such economic hubs, listing Lagos, Abuja and Port Harcourt as some of them, adding that such a situation limits the country’s economic image and potential.

Sanni further identified security as a critical factor in unlocking Nigeria’s growth, describing it as an intangible but decisive asset for attracting investment, noting that state policing would bring law enforcement closer to communities while strengthening accountability at the state level.