Dr Akinwumi Adesina, the President of the African Development Bank Group in a recent speech said that the restructuring of Nigeria should be driven by economic and financial viability. Adesina stated this while delivering a public lecture in Akure, the Ondo State capital.
The public lecture titled ‘Toward a New Nigeria from Federal Fatherism to a Commonwealth’ was delivered virtually from the base of the African Development Bank in Abidjan, Ivory Coast.
Adesina 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.
The AfDB President also called for a better way of supporting states in financing critical infrastructure. He charged states to focus on turning their resources into wealth, based on their areas of comparative advantage.