Dr. Akinwumi Adesina, President of the African Development Bank Group, has advocated for a transformative change in the name of Nigeria, suggesting it be renamed ‘
The United States of Nigeria.’ This call was made during his acceptance speech for the 2024 Obafemi Awolowo Prize for Leadership, under the theme ‘Making a New Nigeria: Welfarist Policies and People-Centred Development.’
The suggestion, as conveyed by his Special Adviser on Industrialisation, Prof. Banji Oyelaran-Oyeyinka, aims to foster a shift in the relationship dynamics between the federal government and the states.
Adesina highlighted that renaming the country could serve as a catalyst for a more decentralized governance structure, with states assuming a pivotal role while receiving support from the center without dominance.
In his address, Adesina emphasized the need for audacious reforms, including constitutional amendments to devolve more economic and fiscal powers to the states or regions. He underscored the importance of economic and financial viability as prerequisites for political sustainability, advocating for restructuring driven by economic imperatives rather than political expediency.
Addressing the prevalent challenges faced by Nigerians, Adesina lamented the high implicit tax rates borne by citizens due to the government’s failure to provide basic services. He stressed the urgency of shifting towards a system where taxes paid by citizens correspond to efficient service delivery by the government, rather than burdening individuals with additional costs.
Furthermore, Adesina outlined a vision where states harness their comparative advantages to unlock their economic potential, thereby reducing dependence on federal allocations and facilitating access to capital markets for long-term development initiatives.
In conclusion, Adesina’s call for renaming Nigeria and advocating for decentralized governance structures underscores the necessity for bold reforms to address systemic challenges and propel the nation towards sustainable growth and development.
