Bracing Up With The BRACED Commission

Governors of the six South-South states met last week in Benin City, the Edo State capital to deliberate on the resuscitation of the BRACED Commission, the multilateral agency the six states established in 2011 to design joint development strategies for the states in the geopolitical zone.
The meeting was presided over by the host governor, Mr. Godwin Obaseki, who is also the Chairman of the Board of the Commission. The governors made bold statements about their intention to work together to drive development in the zone.
The resolutions of the BRACED Commission were far reaching and laudable and if followed through would strategically position the region for rapid economic development. Among others, the governors called for a constitutional review to devolve more powers and resource control to the states; pledged a commitment for economic cooperation and integration among the states; directed the setting up of the BRACED Business Council; and called on the Federal Government to fast track the establishment of key infrastructure in the region like the fast rail line from Lagos to Calabar and revival of the seaports in the zone.
The governors directed the attorneys-general and commissioners of environment in the states to meet and look at the prospect of drafting an environmental and a blue carbon partnership for the protection of the environment in the zone.
It is commendable that finally the governors have put politics aside and have decided to take up an issue that is at the heart of the economic development and empowerment of the people of the region. The BRACED Commission in its concept and projections is what the South-South zone needs to create a strong regional economy.
The revival of the BRACED Commission at this time is auspicious, even though it had been long expected. The concept of the centralisation of the national economy in which key economic decisions and operations are centralized has failed Nigeria. The current sorry state of the national economy bears true testimony to that. And at no other time than now has it become imperative that Nigerians should begin to think regionally in developing their economies. Gladly, the Federal Government seems to have taken the lead with its recent decisions to relocate the headquarters of the Federal Airports Authority of Nigeria and key central bank departments from Abuja to Lagos. Concerned groups have in the same spirit also called for the relocation of the operations and corporate headquarters of oil and gas companies to the Niger Delta where oil and gas are produced.
Two major issues are imminent in the oil industry, whose hub is the South-South, where the BRACED Commission and South-South states should push their interest. Shell Petroleum Development Company Limited, the largest oil producing company in the country is divesting her onshore interests and has put up its onshore assets for sale. The BRACED Commission can be used to acquire substantial interests in the assets, and by so doing secure for the governments and people of the region profitable investments for the people. This will not only generate revenue for the states but also ensure that they participate in the management of the production of oil in a responsible and friendly way.
Secondly, the Nigerian National Petroleum Company Limited has put up the Port Harcourt Refining Company Limited for privatisation. A similar decision may be taken for Warri Refinery and Petrochemicals. Company Limited after undergoing rehabilitation. It is an opportune time for the states to buy into the companies located in the region for the benefits they can offer to the states and the people.
With the huge economic and infrastructure potential in the region, properly empowered and envisioned the BRACED Commission can lift the South-South Zone to become the envy of the other zones. The time for rhetoric is over. It is time for action.