BSN holds Founder’s Day, proffer solutions to Nigeria’s economic problems

Former Head of State and Patron, The Bible Society of Nigeria (BSN), General Yakubu Gowon, has called on Nigerians to keep alive, uphold the virtue of righteousness and integrity as the nation passes through economic instability.

He noted that while economic reforms, diversification and production appears to be the panacea to Nigeria’s economic quagmire, if those that are to implement the policy are not righteous, Nigeria would not move forward because it is righteousness that exalts a nation according to the Word of God.

He gave the call in his goodwill message at the 16th Founder’s Day, Annual Lecture and Awards Ceremony of BSN with the topic “Diversification and Production: Panacea to Nigeria’s Economic Quagmire” which took place at Shepherdhill Baptist Church, Obanikoro, Lagos.

Chairman, NEM Insurance Plc, Mr. Tope Smart, who was the chairman of the event, lamented Nigeria’s over dependence on oil, stating that the time to diversify cannot be better than now.

“Supposing oil dries up, where do we go? Oil is not sustainable and our leaders should think of other exchange earnings such as tourism, agriculture, mining, entertainment among others.

“Malaysia came to Nigeria in the seventies to collect seed for palm oil production and today, the country is one of the largest exporter of palm oil in the world.

“We have the potential to develop tourism and excel in agriculture. We have to be intentional and diversify,” he said.

President/Board Chairman, BSN, Bishop Timothy Banwo, admonished Nigerians to key into positive innovations to move the country forward adding that Nigeria as the giant of Africa should be in the fore front of development.

The Guest Speaker, Dr. Olufemi Awoyemi, in his own view said Nigeria’s economic challenges are often painted as insurmountable and premised the nation’s problem on the desire for immediate gratification that has beclouded the minds of a lot of Nigerians not to see the good that is emerging even at such a difficult time like this.

“The fact that the economy has long been overly reliant on oil is a matter of where the focus is, somewhat a direct indictment of strategic planning that deploys diversification as a failsafe approach to mitigate risk.

“Despite accounting for a relatively low proportion of GDP (about 5% as of 2024), the oil sector dominates Nigeria export earnings, accounting for 72.56% as of 2024 which is where the challenges lie.

“Looking at the GDP, Nigeria has diversified its production base industries. For instance, in nine months of 2024, agriculture accounted for 20.26% of GDP, ICT (12.87%), Construction and Real Estate (15.34%) and Manufacturing (13.92%)” he said.

He added that Nigerians should carefully look at where they fit in and survive because the pains to put things right would still continue as he advised parents to ensure their wards study relevant courses as most courses in universities these days are irrelevant to the present age and situations.

The General Secretary, BSN, Pastor Samuel Sanusi, appreciated how far God has helped the body believing that the organisation will continue to forge ahead with the help of God and the cooperation of its supporters.

Awardees at the event were Primate, Church of Nigeria (Anglican Communion), Most Rev. Henry Ndukuba; President, Christ Apostolic Church, Nigeria and Overseas, Pastor Samuel Oladele; former Minister of Information and National Orientation, Prof. Jerry Gana; Chief Executive Officer, Tudel Global Investment Limited, Pastor Dele Adejugbe and President and Chairman of Council, Nigerian Institute of Public Relations (NIPR), Dr. Ike Neliaku.