The immediate past Vice-Chancellor of Lagos State University (LASU), Prof. Olanrewaju Fagbohun, has expressed great optimism that Nigeria can achieve a true rebirth and become a force to reckon with again in the global space.
He said, although the current humongous socio-economic challenges that Nigeria and its people are grappled with are enough for many to lose hope for a new Nigeria, it is clear that with strong political will, national pride and belief, Nigeria can ride over its challenges and explore them to make lives more meaningful for people across strata.
According to him, Nigeria’s problems are more systemic and attitudinal of people in charge of resources, especially in political governance over the years than the much-touted scarce resources.
He said it was disheartening that many countries, which at one time or the other, equally experienced similar or worse scenario in their political and socio-economic lives, ranging from colonialism, military incursion, poor educational policies, high unemployment, poor infrastructure, and even economic recession like Nigeria and endowed with less human and material resources had since been able to wriggle out of their crises while Nigeria on its part, sinks deeper in its own mess.
He gave reference to countries such as Dubai, Singapore, South Korea, and China, saying those countries were once enmeshed in a serious economic crisis while today, they are ranked high in the global economy.
Olanrewaju, a Professor of Environmental Law and Senior Advocate of Nigeria, shared these thoughts and perspectives at the 21st annual public lecture and luncheon organised by the Obafemi Awolowo University Muslim Graduates’ Association (UNIFEMGA), Lagos Chapter, on Sunday.
The annual event with this year’s edition 21st in the series, and held in honour of two prominent alumni of the university, Justice Habeeb Abiru and Prof Yusuf Ali, had many other high profile alumni of the institution including the Managing Director of Lotus Bank, Mrs Kafilat Araoye, and UNIFEMGA’s Board Chairman, Mr. Abdul Rafiu Ebiti, in attendance.
Speaking on a theme: “Harnessing Opportunities for a new Nigeria,” the don highlighted six fundamental issues that Nigeria would need to effectively work on to bring about the desirable change in Nigeria’s narrative.
ALSO READ: Insecurity: Rejig your strategy, security agencies told
He listed them to include deficient federalism, weak judicial system, insecurity, non effective educational system, poor electricity and lack of transparency and accountability, particularly by the political leaders.
He recommended that Nigeria should, among other things, leverage aggressively on some areas of economic activities where it has a comparative advantage and can also tap into some others.
He listed such areas to include agriculture that will incorporate value chains, entertainment and tourism industries, blue economies with ICT to drive them all.
Another thing that can help Nigeria out of its current economic quagmire according to him, is to explore the small and medium sized enterprises (SMEs), by making the sector investment friendly.
He argued that such a move would not only grow job opportunities particularly for the teeming youths including women, it would also open new markets and drive real development.
Fagbohun equally emphasised the role of accurate and effective data governance, the ease of doing business, aggressive investment in industrial sector, infrastructure, and Artificial Intelligence as other areas capable of changing the current narrative.
Fagbohun, however, cautioned that Nigeria should not be allowed to go in the way of Venezuela, which despite having a largest oil reserve globally fell from grace to grass and should not always yield to the advice and dictates of the Bretton woods such as the World Bank and the IMF.
He emphasised that once all these opportunities are explored and backed up with strong commitment, determination and innovation from both the public and private sector participants, the efforts would certainly pave the way for a new Nigeria where the majority of people can afford basic needs and other necessary needs to live a meaningful life.
In his welcome address earlier, the chairman of UNIFEMGA, Lagos Chapter, Mr. Saheed Bashiru, said the association is to advance the socio- economic interests of members, and promote the development of their Alma mater, quality education and national development.
According to him, the public lecture has been adopted as a flagship programme by the Lagos Chapter of the association to bring together people across walks of life to discuss topical and pressing issues that can help move the country and its people forward.
He thanked the keynote speaker, Prof Olanrewaju Fagbogun, who is also an alumnus of the university, for accepting to perform the role.
He, however, solicited support of the association particularly in the area of its scholarship scheme to enable it to reach more deserving students, saying the testimonies from the past beneficiaries of the scheme are not only tremendous but also encouraging.
TheWitness
