Language is a form of communication. If you don't or can't speak the language one understands very well to the bone, you are not communicating. And the person is not understanding fully. Which leads to limited information and knowledge being transmitted.

If you take a look at many countries, especially better developed ones. You will notice that they do almost everything in their native languages including teaching at schools from kindergarten to university level. But in Nigeria, students struggle to understand basic concepts at school due to the lack of good command of the foreign language "English" we exalt.

Come to think of it, even countries like China, India, Brazil and many European countries teach their students in their native languages. Some people in Naija will even mock you, that you cannot even speak "Good English". Do not get me wrong. I think English should be taught as a second language for business usage worldwide.

Do you think academic performance will improve should textbooks be written and lectures be held in our "pidgin or native languages" which everyone understands better ?

Ideally all education should be through the medium of indigenous languages such as Yoruba, Igbo, Hausa, Fula, Tiv, Efik, Kanuri, Bini and Nupe. English should just be taught as a foreign language, along with other foreign languages such as Arabic, Chinese, French and Spanish.
However I really hate pidgin English, and I believe it really should have no place in Nigeria. It is really nothing but a disgusting baby-talk. Pidgin English is already threatening the indigenous languages of Liberia and Sierra Leone. It must be destroyed.

^i no go sabi wentin you go dey do find wrong with Pidgin english

anyway, on a more serious note pidgin English is very Immature and I agree that it should erradicated.
But, it's going to be hard, and divisive to teach in that many different languages, I think it would do alot of good if some of the African ethnic groups were absorbed by bigger ones.

Op you have some points that I agree with.

But it's not possible for Nigeria to have one indeginous language as it's main. For example people will feel marginalized if Igbo is chosen over Hausa or vise versa. Some of those nations you listed speak colonial languages, like Brazil. They use Portuguese. And also most of the countries in Western Europe are homogenous meaning they consist of 1 ethnicity. In India most teaching is done in Englush even though Hindi is also written and spoken.