…Presents Recommendations for Sustainable Progress at LASU 94th Inaugural Lecture.
In a compelling address to a distinguished audience, Professor Ibrahim Adeolu Bakare of the Department of Economics, Faculty of Social Sciences, Lagos State University, LASU delivered a stark warning about the urgent need for transformative action to address the multifaceted challenges facing the nation.
Professor Bakare made the call when he delivered the 96th Inaugural Lecture of the Lagos State University, LASU with the topic: “Forlorn Hope In An Uncertain Economy: Navigating The Cap That Optimally Fits Nigeria’s Development Trajectory” on Tuesday, 14th May 2024 at the Buba Marwa Auditorium, Main Campus, Ojo, Lagos.
Drawing upon global examples of exemplary leadership and successful economic models, Prof. Bakare outlined a series of comprehensive recommendations aimed at steering Nigeria towards a path of sustainable development.
Key among the recommendations is a call for profound leadership reform, emphasizing the importance of integrity, accountability, and service to the people. Drawing parallels with global icons such as Mahatma Gandhi and Nelson Mandela, he underscored the necessity for constitutional changes to ensure governance structures are aligned with the interests of the populace.
Addressing economic concerns, the renowned scholar advocated for a more favorable environment for private investment, stressing the role of the government in fostering business growth and stability. Additionally, proposals were made to overhaul the security architecture, tackle poverty and inequality through targeted programs, and streamline the bloated cost of governance.
The Economic expert also highlighted the imperative of institutional reform, emphasizing the need for independence and transparency in key sectors such as law enforcement and anti-corruption agencies, while emphasising leveraging technology to combat corruption and promote accountability as a critical strategy.
In terms of economic diversification, Prof. Bakare urged a shift away from reliance on oil towards sectors such as solid minerals and agriculture, emphasizing the need for investment and transparency in resource management. Additionally, revitalizing abandoned projects and prudent debt management were identified as essential steps toward economic stability.
The recommendations put forth by the Prof. underscore the gravity of Nigeria’s current challenges and the imperative for decisive action, adding that with collaboration between government, private sector, and civil society, there is hope for a brighter future marked by sustainable progress and prosperity for all Nigerians.