Prof. Doyin Salami, former Chief Economic Adviser to the immediate past president of the country, Muhammadu Buhari, has blamed the nation’s backwardness on its handlers, saying there were no deliberate efforts about its progress.

Salami, who was the guest speaker at the 2023 Sobo Sowemimo Annual Lecture with the theme, ‘Imperatives of Nigeria’s Regeneration’, held at the Alake Hall, Abeokuta Club, noted that Nigeria could not afford to wait for things to just happen to her.

He noted that for the country to take charge of its destiny, the leaders must be deliberate about making progress and making a change.

“Nigeria has not been intentional about making progress; things just happen to us. We have not made things happen,” Salami stressed.
He expressed disappointment about the current state of the country, recalling that in 1990, the average income of Nigeria was bigger than that of China, but today, China’s economy is much bigger than that of Nigeria.

He said it was regrettable that countries like Vietnam, India and Malaysia that were nowhere near Nigeria many years ago have left it behind the ladder of progress.

The economist attributed the inability of Nigeria to take advantage of the fourth industrial revolution, which the Asian countries and others had capitalised on, to the failure of leadership.

He, however, said all hopes were not lost provided the government would take some deliberate steps, which include bringing down inflation without affecting investment.

According to him, to regenerate, an agenda for increased productivity must be pursued.

He added that Nigeria must also position itself to be a partaker of technology and in regional competition, as well know how to turn its population into an asset.

Salami said Nigeria should begin to position itself to recognise emerging trends and go for it, rather than just allowing things to happen to her.

“The critical question we should ask ourselves is how do we position ourselves so that opportunities that abound will gravitate towards us. We have to be concerned about how to ensure that things don’t just happen to us. And to achieve this, we have to first fix the issue of security. We should create a security architecture that will not only protect our territorial integrity, but also create a secured environment,” he said.

Salami blamed the Japa syndrome on lack of deliberate policies and actions by the government, adding that “if we are to restore the faith and hope of our successors- in-title, it must begin with a thought and the need to proceed with the communication of that thought process to others.”

Chairman of the occasion, Tunde Lemo, stated that the economy of the country has been challenged since 2013, adding that with the clear-cut policies of the current administration, things would improve.

“I think the people in government are doing things right. The governor of the Central Bank of Nigeria (CBN) has almost completely cleared the backlog and the exchange rate has been improving. Let us give them the chance; the economy will get better,” he said.