In other words, does Nigeria have the kind of institutions it deserves given its culture and level of development or should we actively and creatively design new institutions that would propel us to achieve the vision of being one of the largest economies in the next two decades? What should those institutions be?
My view is that it is not an issue of either of the two polar positions of either evolution or revolution. We need both. Nigeria cannot and should not wait for another hundreds of years to ‘evolve’ the right kinds of institutions. We need rapid institutional adaptation: in most cases, we don’t need to re-invent the wheel as it were.