Scholars Call for Adoption of Research Findings to Tackle Nigeria’s Economic Issues
University scholars and financial experts have urged governments at all levels to adopt and implement solutions derived from academic research in order to address Nigeria’s ongoing economic challenges. They emphasized the importance of political will to utilize these research findings for a more productive and sustainable economy.
Induction Ceremony of New Members into the Nigeria Economic Society
The call for action was made during the induction of new associate and full members into the Nigeria Economic Society (NES) at the Bamidele Olumilua University of Education, Science, and Technology (BOUESTI) in Ikere-Ekiti. The event marked the induction of economics graduates and faculty members, including the Vice Chancellor, Professor Olufemi Adeoluwa, into the society.
Role of Economics in Societal Development
Professor Adeola Adenikinju, the national president of NES, congratulated the new inductees and underscored the essential role of economics in societal progress. Represented by Dr. Fadiran, the zonal coordinator and chairperson of NES, Adenikinju stressed that economics is central to public policy formulation, growth, and development. He noted that economics offers tools to allocate resources efficiently and address issues like poverty, unemployment, inflation, and inequality.
Addressing Economic Challenges Through Research Implementation
Dr. Folorunsho Obasuyi, the head of the Economics Department at BOUESTI and NES secretary for Ekiti, expressed concern that despite extensive research and policy recommendations, Nigeria still struggles with economic challenges. He criticized the poor implementation of these research findings, calling on policymakers to leverage academic knowledge and adopt sustainable policies to empower innovators and small-scale industrialists—key drivers of economic transformation.
Challenges in Moving from Theory to Action
In his remarks, Professor Olufemi Adeoluwa, Vice Chancellor of BOUESTI, urged scholars to move beyond theoretical discussions and come up with practical solutions that will help Nigeria’s economy prosper. He emphasized that a nation’s growth cannot be achieved without a robust and effective economic foundation
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