Soludo Urges Nigerians To Look Beyond Oil For Economic Stability


A former Governor of Central Bank of Nigeria Professor Chukwuma Soludo says Nigeria needs to look beyond crude oil for it to live above the present economic crisis facing the country.

Professor Soludo made the assertion while delivering a lead paper at the 2017 annual international conference of the Department of Businesses Administration, Nnamdi Azikiwe university Awka.

Delivering a paper titled "beyond recession: towards sustainable economic stability in Nigeria", professor Soludo regretted that the present economic crisis in the nation was largely avoidable but due to lack of idea and proper planning , the country plunged into a situation too hard for the policy makers to handle.

According to Professor Soludo, all academics, economics and management practitioners should not isolate themselves from the present economic quagmire, but needs a multi tasking approach to tackle it once and for all.

While going down memory lane on the origin of the economic melt down, Professor Soludo traced the year it started globally to 2007, saying that Nigeria was on top of the economy by a little above seven percent due to articulated ideas blaming the present poor economic condition on unprecedented debt accumulation.

In a Keynote address, the chairman Senate committee on Tertiary Education and TETFUND, National Assembly Senator Barau Jibrin represented by Engineer Alex Unachukwu said the team of the conference " Managing a recessed economy: options for Nigeria ", is apt as government is seeking possible ways of cushioning the effect of the condition which has increased suicide rates in the country as a result of depression and helplessness.

Senator Jibrin urged the department to ensure that at the end of the conference, that a document should be presented to policy makers with a view to proving a framework that would lead to a permanent solution to the problem.

Earlier in an address, the Vice Chancellor of UNIZIK Professor Joseph Ahaneku said the school has a tradition of using academic discourse by its various Faculties and Departments to examine issues of national and international concern with a view to proffering solutions.

In a remark, the Dean faculty of Management Sciences, Rev Canon Professor D. Nkamneme while appreciating the department for organising such event annually, expressed the hope that the conference was aimed at brainstorming on issues and at the end provide workable document that would help in finding solutions.

The chairman on the occasion Professor Pita Ejiofor who said that the Igbo's are very proud of Professor Soludo for his achievements hoping that the document provided at the end of the conference would be put to use.

Earlier, the Head of Department Businesses Administration Dr Lilian Orogbu maintained that the choice of the professor Soludo as the lead paper presenter was well thought to enable the department tap form his wealth of knowledge in economic management in order be part of those who provided solutions to unemployment, inflation and fiscal depreciation in the country.

The event featured presentation of gift to guests.


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