The 2023 presidential candidate of the Social Democratic Party (SDP), Prince Adewole Adebayo, has described Nigeria’s formation as an “accident of history” driven by colonial trade interests rather than a deliberate national vision.

In a recent interview, Adebayo reflected on Nigeria’s 65-year journey since independence, lamenting that despite decades of self-rule, the country still struggles with infrastructure decay, unemployment, and a weakened industrial base.

According to him, “Nigeria started accidentally. There were no great thinkers or philosophers who came together to form the nation. It was simply created as a trade zone by the Royal Niger Company for business efficiency, before being handed over to the British government and later amalgamated in 1914.”

Adebayo compared the country’s development to a train that has been on a long, delayed journey, arguing that while individuals may have made progress, the collective nation remains stalled.

He blamed the privatisation policy of successive governments, particularly under former President Olusegun Obasanjo, for Nigeria’s economic woes.

“Selling off public assets like NEPA, NNPC, and the Shipping Line was a major mistake,” he said. “Privatisation without an existing strong private sector only destroyed public capacity and deepened unemployment.”

Adebayo noted that public institutions once served as training grounds for Nigerian professionals, producing engineers, technicians, and administrators. He lamented that with the sale of these institutions, many young Nigerians have been left without opportunities to gain practical experience.

“Even in developed countries like the U.S., they still retain some public corporations. You don’t privatise everything — not even in defence or infrastructure,” he added.

The SDP chieftain called for a more balanced economic model where both public and private sectors coexist. He argued that true reform should focus on “privatising sectors, not public enterprises,” meaning that the government should encourage competition but not sell its vital assets.

Adebayo also hinted at his party’s strategy ahead of the 2027 general elections, saying the SDP is working to build a new generation of leaders who understand Nigeria’s unique economic and social challenges.