#NigeriaAt57: Former Finance Minister speaks on economic restructuring


Tuesday, October 03, 2017 7.30pm/ Proshare WebTV

As Nigeria marked its 57th year of Independence. The former minister of state, finance Mr Aderemi Babalola shared his perspective on the economic restructuring of Nigeria, in a recent interview with Proshare Webtv.

Mr Babalola revealed that the debate for the restructuring of Nigeria is ongoing and seems to be the latest fad in town.

According to him, the debate is premised on some fundamental and undeniable aphorisms. He asserts that the majority of Nigerians are not happy with their living conditions, the way they are governed and what they get out of the Nigerian union.

The former minister noted that the way the country is structured, is based on the local, state and the federal government. He highlighted the fact that a situation where the population of 180million people in the country, which the majority are youths had no access to quality education, efficient medical service and no employment, created a hopeless situation for the youths and the masses.

Mr Babalola was of the view States should be competing with incentives to drive talent and propel startup investments in disruptive technology,that will lift Nigerian from the doldrums to a competitive economy.  He believes this will reposition Nigeria in the comity of nations.

He said “It has gotten to a stage where people in the country are clamoring that what they want about restructuring Nigeria is true federalism and more resources in the country. The question is not just about the money given to the local government  or the state government, it is about the purpose that every Nigerian must feel connected, they must feel good in other to have a better future”.

Speaking on the way forward, he advocated for prudent and effective management of resources in the country. He believed that there should be a proper reorientation on leadership and accountability, from individuals, the private sector to the public space.

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