“Nigeria’s restructuring should be based on economic viability” – AfDB President, Adesina
President of the African Development Bank Group, Dr. Akinwumi Adesina has advised that Nigeria’s restructuring should be based on Economic and Financial viability
Speaking during a public virtual lecture titled ‘Toward a New Nigeria From Federal Fatherism to a Commonwealth’ for an event in Akure, Akinwumi noted that economic and financial viability are a necessary tool for political viability. He called for a better way of supporting states in financing critical infrastructure.
He stressed the need to diversify the source of financing for states across Nigeria, noting that Nigerians in Diaspora remitted $24 billion in 2019, which accounted for half of crude oil exports. Akinwumi suggested that resources in each state should be managed by the States which will in turn pay federal taxes and royalties to the Federal Government. He also urged state governments to focus on turning their resources into wealth based on their areas of comparative advantage.
the only solution is to go back our regional government…..
Our FG has dull and zero economic knowledge. They don’t know how to grow economy they are afraid of restructuring because there pockets is the reason they are in power not the growth of the country.