Speaker of the House of Representatives, Tajudeen Abbas, says Nigeria’s economic must decisively move beyond oil to develop sustainable pathways for inclusive growth.
Abbas made this statement at the 14th convocation lecture of the Al-Hikmah University in Ilorin on Monday, adding that Nigeria should harness its abundant resources and human capital to diversify its economy.
“With dwindling oil revenues, global shifts toward renewable energy, and the increasing need for job creation, it is imperative that we chart a new course for economic transformation.”
“This requires deliberate efforts to unlock the potential of other sectors, such as agriculture, solid minerals, technology and the creative industries.”
“Achieving this transformation will secure Nigeria’s economic future and address poverty, inequality and unemployment critical barriers to sustainable development.”
Nigeria’s economic transformation demands collective responsibility, stressing that the government must lead with visionary policies, transparent governance and strategic investments in infrastructure and education.
Abbas further stated that the legislature on its part should continue to ensure enabling legislation and ensure rigorous oversight of policies and programmes aimed at diversification.
Also, explained that the academia has a vital role in conducting research, generating data driven insights and developing skills essential for the new economy.
Concluding, he charged the country’s universities to strengthen collaborations with industries in order to drive innovation and entrepreneurship, said the private sector must embrace investments in emerging industries.
He added that the private sector should support small and medium scale enterprises and leverage technology to boost productivity.
