A Professor of International Economics at the University of Ibadan, Adeolu Adewuyi, has charged political leaders to pursue policies that will strengthen inclusive economic performance throughout their tenure in office.
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Adewuyi, who gave the charge in an inaugural lecture he delivered on behalf of the Faculty of Economics and Management Sciences, urged politicians
not to find it convenient to showcase good economic indicators only during elections.

The inaugural lecture was entitled: “What Rescues People from Poverty – Economics of Politics or Politics of Economics?”

The professor said this approach would ensure the sustainability of both good economic indicators and the political party in power, adding that we can then begin to use economic indicators to predict the outcome of elections in Nigeria as in the advanced countries.
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Adewuyi said policymakers should be encouraged to disengage from politicizing welfare economic matters such as the naira redesign and cashless policies introduced close to the general elections, as this may lead to a biased distribution of economic benefits to only political supporters at the expense of the masses who are suffering for the policy somersault.

The inaugural lecturer argued that although poverty can occur or increase due to uncontrollable factors such as natural phenomena, the role of controllable factors such as institutions involved in policy-making is also very important.

To alleviate poverty, therefore, Professor Adewuyi advised welfare-enhancing economic policies supported by both economic and political institutions.

This, he said, can only be achieved through proper organisation of the masses across all spheres of economic and political activities to serve as major groups in the society that influence public policy.

Adewuyi submitted that if people want Nigeria to change as all desired, they must not only participate in economic activities but also in political activities which determine the allocation and distribution of power and resources, and hence, the level of welfare.

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