Scholars seek adoption of research recommendations to tackle economic woes

University scholars and financial experts have called on government at all levels to adopt and implement solutions proposed by them as part of efforts to address the country’s economic challenges.

They argued that leaders should be willing to demonstrate their political will in deploying research findings conducted by economists and scholars for a more productive economy.

They spoke during the induction of associate and full members into the Nigeria Economic Society (NES) from the department of Economics at the Bamidele Olumilua University of Education, Science and Technology, Ikere-Ekiti (BOUESTI).

At the ceremony, economics graduates and lecturers of the university, including the Vice-Chancellor, Prof. Olufemi Adeoluwa, were inducted into the society. The National President of NES, Prof. Adeola Adenikinju, congratulated the new inductees for their commitment, assuring them that they would be accorded the necessary privileges as members.

Adenikinju urged the new members to deploy their expertise and knowledge towards the economic development of the country. He said: “As emerging economists, you hold the key to unlocking the potential of our economy, Nigeria and Africa. Your insights and innovations will help shape policies, drive growth, and create opportunities for millions of Nigerians and Africans.

According to him, understanding economics allows us to tackle pressing issues such as poverty, unemployment, inflation, and inequality. Head of Economics department, and, Dr Folorunsho Obasuyi, while congratulating the graduating students for their steadfastness and dedication towards a successful career, appealed to government and policymakers to embrace the recommendations made for the country to survive the current economic challenges.

Obasuyi, who is the NES Secretary in in the state, lamented that despite efforts in research and policy recommendations, Nigeria still grapples with economic challenges. He noted that the problem is not with economists, but with poor implementation of research findings.

“If Nigeria is to move forward, policymakers must harvest knowledge from universities and utilise it effectively. We urge our leaders to listen to scholars, leverage research insights, and embrace sustainable policies that empower small-scale industrialists, technocrats, and innovators, the real drivers of economic transformation. Nigeria does not lack solutions; it lacks the political will to implement them.” Obasuyi said.

On his part, Adeoluwa challenged the scholars to move beyond theory and come up with actionable solutions for the country to prosper economically, stressing that” there is no way the society can grow without a strong economy.”