PROFESSOR Banji Oyelaran-Oyeyinka, Senior Special Adviser to the President on Industrialisation at the African Development Bank (AfDB), has called for urgent action to rebuild Nigeria’s broken institutions, collapsed industries, and depleted knowledge systems.
Speaking at the 55th Anniversary of the Department of Chemical Engineering, Obafemi Awolowo University (OAU), on Saturday, June 28, 2025, Prof. Oyelaran-Oyeyinka described the task as critical for Nigeria to reclaim its place in global development.
In his keynote address entitled; “Rebuilding the Broken Wall: Reviving National Capabilities for Economic Development in Nigeria,” Prof. Oyelaran-Oyeyinka painted a stark picture of the country’s regression, noting that in 1980, Nigeria’s GDP per capita was six times that of China, yet today, China’s exports alone ($3.58 trillion in 2024) surpass the GDP of the entire African continent.
He highlighted the abandonment of over 11,000 government projects between 1971 and 2011, including the $5 billion Ajaokuta Steel Complex, as emblematic of institutional failures and a chronic inability to industrialise.
The Collapse of Knowledge and Brain Drain
The professor lamented the decline of Nigeria’s once-thriving academic and research institutions, citing OAU as a microcosm of the crisis. “Dilapidated labs, underfunded departments, and a mass exodus of talent” have left the country’s knowledge systems in disarray.
He said thousands of engineers trained at public expense now serve foreign economies, while Nigeria’s industries remain underdeveloped.
He identified Africa’s “real resource curse” as a lack of structured knowledge, noting that the continent exports raw materials but lacks the capacity to add value.
“We extract; they refine. We export raw minerals; they manufacture chips, phones, and cars,” he said, contrasting Africa’s model with Asia’s success in mastering technology and building industrial bases.
A Four-Point Blueprint for National Rebuilding
Prof. Oyelaran-Oyeyinka outlined a strategic plan to revive Nigeria’s capabilities:
Factory-Level Investments: Prioritise agro-processing and value addition, leveraging Africa’s 65% share of the world’s uncultivated arable land.
Export-Oriented Industrialisation: Use the African Continental Free Trade Area (AfCFTA) as a production base for manufactured goods, not just a market.
Knowledge and Innovation Infrastructure: Invest in vocational training, research, and technological learning to enhance national competitiveness.
University and Research Renewal: Rebuild academic institutions through partnerships, modern infrastructure, and performance-based funding.
A Call for Visionary Leadership
The AfDB adviser emphasised that Nigeria’s challenges stem not from a lack of talent or resources, but from “visionless leadership.” Quoting Chief Obafemi Awolowo, he stated: “Man is the sole dynamic in nature. Every individual is the supreme economic potential a nation possesses.”
He closed with a rallying cry, invoking the biblical Nehemiah: “Let us rebuild the wall of Jerusalem, and we will no longer be in disgrace.”
His speech, met with a standing ovation, was hailed as one of the most urgent and impactful policy lectures in recent Nigerian academic history.
