‘New Nigeria’ Can Help Overcome Country’s Challenge– African Development Bank Boss, Adesina Proposes New Name To Replace Federal Republic of Nigeria

‘New Nigeria’ Can Help Overcome Country’s Challenge– African Development Bank Boss, Adesina Proposes New Name To Replace Federal Republic of Nigeria

Dr. Akinwumi Adesina, the President of the African Development Bank Group, has suggested the adoption of the name “The United States of Nigeria” to replace the current name, the Federal Republic of Nigeria.

This proposal, conveyed through a statement by his Special Adviser on Industrialisation, Prof. Banji Oyelaran-Oyeyinka, emphasizes a shift towards a more decentralized governance structure.

In his speech titled “Making a New Nigeria: Welfarist Policies and People-Centred Development,” presented upon winning the 2024 Obafemi Awolowo Prize for Leadership, Adesina highlighted the need for a fundamental restructuring of Nigeria’s governance system.

He argued that renaming the country to the “United States of Nigeria” would reconfigure the relationship between the states and the federal capital, Abuja.

The states would be empowered as centers of authority, with Abuja providing support rather than exercising dominance.

The statement reads: “From our forgotten rural villages to our boisterous and dynamic urban areas. From the sparks of desire in the eyes of our children to the lingering hope in the hearts of our youths.  

“From the yearnings of our women and mothers and our men and fathers for a better tomorrow, and the desires of the old that our end would be better than our past. From the hardworking street vendors and small businesses to the largest business conglomerates, we must create a movement of hope.”

He added that “the achievement of economically viable entities and the viability of the national entity requires constitutional changes to devolve more economic and fiscal powers to the states or regions. The stronger the states or regions, the stronger the federated units.”

Adesina underlined the importance of restructuring based on economic and financial considerations rather than mere political strategies.

“Economic and financial viability are the necessary and sufficient conditions for political viability.

“If there was one attribute that defined Chief Obafemi Awolowo, and there were many, it would be his visionary boldness. He went where others feared or failed to go. In the process, decades later, his footprints remain in the sands of time. Likewise, today, in Nigeria, we need men and women with vision, who are willing to take bold decisions,” he said.

He pointed out that Nigeria faces significant economic challenges, and restructuring is vital to navigate through these difficulties effectively.

He stressed that the current system imposes a heavy burden on Nigerians in the form of high implicit tax rates, particularly when essential services are lacking due to governmental or institutional shortcomings.