Introduction: President Mohammadu Buhari’s 2019 Independence Day address to the nation may have created an enabling platform to encourage new discussions on how to transform Nigeria’s economy. The President’ssetting up of an Economic Advisory Council, EAC, is an important tool in this regard. At the Platform, a biannual televised conference organized by Covenant Christian Centre in Lagos, Prof Chukwuma Soludo and Bismarck Rewane laid out a strategy upon which economic transformation can work. Prof. Soludo aptly likened Nigeria’s current reality to building a 100-storey building upon the foundation of an old bungalow. I agree entirely with Prof. Soludo that it is not feasible to build a 100-storey building on the foundation of an old bungalow. Likewise, economic transformation can’t be built on Nigeria’s outmoded economic development model. It is crucial to design a comprehensive institutional development design, which is like an architectural plan to transform Nigeria. It is important that the design take into account development law as it is a vital element of any successful model. Some thoughts.
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