Restructuring, resource control, and regional governments will help the North and decentralize (destroy) the Lagos/Ibadan economy. Sardauna built ABU Zaria and Bank of the North without FAAC, South oil, Lagos VAT, seaport taxes, or brewery taxes, yet the North was not dying because of hunger in the 60s; rather, we were more respected.

Why should the North be afraid of restructuring?

Just look at the news below. Apart from northern agricultural produce, most of these goods are Lagos and Ogun manufacturing goods. Clearly, manufacturing companies in the South make most parts of their money from the Northern borders by targeting at least five West African and Central African countries, and manufacturing companies in the South West were also built to target the over 100 million consumers in the North. You are talking about half of their Nigerian market. If you are doubting, check any consumer goods in the North – more than 90 percent were manufactured in either Lagos or Ogun.

Imagine with restructuring or regional governments, if the North decided not to patronize them, or to use Trump-style tariffs on their goods, or if the North decided to only patronize northern financial institutions like we used to have Bank of the North. Imagine the amount of money Lagos banks would lose; they would definitely collapse if they lost over 100 million customers or the whole Northern transactions.

So be careful with your hubris. If the North asks for economic autonomy for regional governments, your banks and financial institutions will be exposed even with their national spread. Sanusi had to save a lot of them to survive during his time as CBN governor, so imagine Lagos financial institutions serving only the South West. Kano businesses shouldn’t do transactions with any bank except northern banks.

They’re clamouring for restructuring, but if the North decides to stop patronizing Lagos and Ogun manufacturing companies, they will understand that every region in Nigeria is contributing to the Nigerian economy, especially Lagos and Ogun revenues, because the companies were built to serve the whole Nigeria, not only the South West or Lagos. So without over 100 million northern consumers, they would understand better if those companies started to close their companies in the South West and go elsewhere. Believe me, millions of jobs would be lost.

I’m just analysing the issues between the North and South. Imagine, say, the South East and South South have their economic autonomy – Chioma in Aba will no longer use a Lagos bank to do transactions and import wigs from China, but a South East bank headquartered in one beautiful financial district in Enugu will handle her transactions, or Emeka, the dealer of car spare parts in Onitsha.

However, the North, if we must restructure, should ask that the Kebbi/Benin border be the Northern route to import and export. We shouldn’t rely on Lagos seaports. In fact, it’s closer and cheaper to import and export from Benin if you are living in Kano than to use Lagos seaports.

However, imagine the amount of revenue the North will get from our land borders. Though the Lagos/Ibadan elites are insulting the North as parasites, they will not support decentralizing the Lagos economy because it would mean decentralizing Lagos/Ibadan revenue and millions of jobs across, and only Yorubas will look to Lagos to do business.

Finally, Lagos should be decentralized economically. Even their financial institutions like banks should focus only on their region; other regions should also have their banks to operate within their regions. If MTN wants customers in the North, they must have headquarters in Kano. I know the South South will also ask for oil companies to have headquarters in their region with six regional governments. If you look at it critically, the same South West gaslighting the whole Nigeria with Lagos economy and restructuring is benefiting more than anyone with this current system and will be the biggest losers with regional governments. So either Lagos/Ibadan knows that and that’s why they’re playing victim cards smartly, or we are overrating their intellect. So the whole six geopolitical regions should have their economic autonomy. Let’s see what Lagos will become. Period.