A Professor of Entrepreneurship and Strategic Management, University of Lagos (UNILAG), Sunday Adebisi, has posited that for Nigeria to recover from its current economic quagmire, it must prioritise aggressive job creation and investment in innovation.

Adebisi, who made the call while delivering the second Mike Adenuga (Jnr) Professorial Chair in Entrepreneurial studies lecture, proffered 14 solutions to the myriads of problems confronting the country.

The erudite scholar, in his lecture titled: “Navigating the present stormy Nigerian economy: The new enterprise Nigeria as the anchorage,” said the storms of unemployment, poverty, high Human Development Index (HDI), inflation and other social challenges usually occur due to the inability of the government and society to create decent jobs.

As a way out of the logjam, the scholar canvassed a purposeful and intentional focus on innovation and entrepreneurship, dedicated to value creations in all facets of life.

Adebisi, who is the first occupier of the Dr Mike Adenuga (Jnr) Professorial Chair in Entrepreneurship Studies, cited China, Singapore, and South Korea as examples of countries that boosted their economies by adopting aggressive job creation and intentional massive investment in entrepreneurship.

“The totality of China, Singapore, South Korea and Indonesia today is innovation and entrepreneurship; it is their forte and culture of global competitive relevance and wealth creation.”

The university teacher said there is no alternative to this, considering the fact that the previous social programmes by successive administrations have failed to rescue the country from its current challenges.

He lamented that in the past social investment programmes, no administration continued what the previous government had started.

Adebisi proposed a “New Enterprise Nigeria” (NEN) model, which is anchored on transparency, accountability and responsible behaviour among the political elites and the citizenry.

He identified the NEN model as a viable pathway to stabilise Nigeria’s economy, while repositioning it for long-term growth and sustainable development.

Adebisi highlighted such steps to include a realistic diagnosis and accountability of the present situation, collective acceptability and guilt for the present predicament, infrastructural projects, food security plan, stop the borrowing, and push for debt rescheduling, among others.
The Vice-Chancellor, Prof. Folasade Ogunsola, called on Nigerians to invest in education and entrepreneurs, to address the prevailing economic challenges.

Ogunsola applauded the Entrepreneurial Studies Centre’s role in bridging the gap between academic excellence and practical innovation, among the youths.

to the VC, “the endowment of this Chair in Entrepreneurial Studies represents a forward-thinking vision to bridge the gap between academic excellence and practical innovation.”

She expressed delight that UNILAG is championing this initiative, as it aligns seamlessly with the institution’s strategic goals of promoting inter-disciplinary research, creating industry-academic partnerships, promoting town-gown relationships, and equipping students with needed skills to not only thrive in a dynamic global economy, but be leaders that shape the future.

chairman of the special lecture, Ibukun Awosika, lauded Adebisi for the well-researched paper, and promised to ensure that the solutions proffered get to the right authorities.

“Most times our leaders make decisions based on what they know, they don’t always mean harm with their decisions. If the message is not taken to them, they may not know the right way out of the economic quagmire. So, I will ensure that the message gets to the right ministries and persons I know,” Awosika stated.