Prof. Bolaji Akinyemi, a former Minister of External Affairs, has urged the Federal Government to take advantage of the current recession to revamp the country’s economy.
Akinyemi made the call at the 2016 convocation lecture he delivered at the University of Ibadan on Wednesday.
The lecture was entitled: “Nigeria’s Exceptionalism: Nigeria’s Quest For Word Leadership.’’
The don lamented the continued doling out of bailout funds to states by the Federal Government without measures to instill fiscal discipline.
“I want to say that before any more bailout funds are disbursed, state should sign on to some conditionalities.
“The conditions should include that cabinet members and special assistant and advisers must not exceed a limited number.
“There should be no white elephant projects such as airports and resuscitation of abandoned projects , ” he said.
He also said that lack of assertiveness in Nigeria’s foreign policy had contributed to the perception of non-performance of government.
“An adjunct of this non-assertiveness has been that countries that had solicited and received Nigerian aid had turned around to vote against Nigeria and generally adopt hostile attitude toward her,’’ he said.