Dr. Akinwumi Adesina, the Former Minister of Agriculture and President of the African Development Bank, has said that Nigeria’s restructuring should be driven by economic and financial viability.
In his speech during a Commonwealth event in Akure, Akinwumi made it clear that economic and financial viability are necessary for the growth of any country.
AfDB Boss also urged the government to map out a better plan on ways to support states in financing infrastructures.
He also stressed the need to diversify the source of financing for states across Nigeria.
He also noted that Nigerians in Diaspora remitted $24 billion in 2019, which was used for half of crude oil exports.
Adesina, however, suggested that resources in each state should be managed by the States which will in turn pay federal taxes to the Federal Government
“Also, I think state governments should focus on turning their own natural resources into wealth based on their areas of modified advantage,” he said.
Recall that Adesina recently described the system of government currently being practiced in Nigeria as ‘fatherism’ and not federalism as expected.