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Adesina faults Nigeria’s imports substitution policy


Fish farmers association lauds Africa’s confidence in Adesina as AfDB President
Akinwumi Adesina

By Yinka Kolawole

The president of the African Development Bank (AfDB), Dr Akinwunmi Adesina, has faulted Nigeria’s ‘imports substitution’ economic model that tends to focus more on replacing imports and saving the naira rather than deliberately pursuing value-added manufacturing.

Speaking at the Manufacturers Association of Nigeria’s (MAN) Annual Adeola Odutola Lecture in Abuja yesterday, Adesina noted that Nigeria has failed to diversify its export base to high-value market products over the years.

According to him, the country has failed to position itself for the type of economic growth and achievements attained by developing countries like Vietnam and Malaysia.



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