Sinn Fein has shared power in the British province of Northern Ireland since 2007 and is in talks to restore devolved government there, but it has never governed in the Republic where it has established itself as the third largest party.
"Leadership means knowing when it's time for change and that time is now," Adams told Sinn Fein's party conference in Dublin.
Britain will directly set a budget for Northern Ireland after Irish nationalists Sinn Fein and British unionists DUP fail to agree on a power-sharing executive.
Northern Ireland's main political parties Sinn Fein and DUP have been in talks to form a government since an election in March but are yet to come to an agreement.
Northern Ireland's ex-deputy first minister and former IRA commander died after a prolonged illness.
Voting will take place on March 2 after collapse of power-sharing government over a contentious green energy scheme.
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