According to the lawmaker, worldwide, the economy of any country goes up and down, what is needed to be done is how to go about it.
Senator Shuaib Salisu (Ogun Central), has attributed the economic challenges confronting the country to the failure of past governments to evolve life-saving policies.
Salisu stated this at the 2024 National Annual Reunion of the Obafemi Awolowo University Muslim Graduates’ Association (UNIFEMGA) held at the Oduduwa Hall, OAU, Ile-Ife on Saturday.
He, however, expressed optimism that the nation would come out stronger, saying that “the country is a work in progress.”
He spoke on “Changing Nigeria’s Consumption-Based to a Service and Production-Based Economy”.
According to the lawmaker, worldwide, the economy of any country goes up and down, what is needed to be done is how to go about it.
He identified under-utilisation of resources, and structural bottlenecks as the bane of the nation’s economic challenges with microeconomic instability, and fiscal deficit as the consequences.
Salisu, who is the Chairman, Senate Committee on ICT and Cyber Security, suggested that to opt out of a consumption-based economy and be more focused on a production-based economy, national values and ethos must be revisited.
“New measures of performance, activation of dormant national assets which is lying fallow must be worked on like critical assets of governments, ease of doing business, infrastructural development must be put in place.
“Having a positive attitude, a plan where to be in years as personal development and take care of your health which is paramount,” he said.
Earlier, Engr. Abdul-Fattah Olanlege, the National President of Obafemi Awolowo University Muslim Graduates’ Association (UNIFEMGA), disclosed that the association disbursed scholarships worth N11.5 million to 118 students of the university.
Olanlege appealed to leaders across all levels to step up policies and actions that would bring succour to the people.
Also, the Chairman of the occasion, Dr Tunde Popoola, urged leaders to focus more on production-based economy, saying such would raise the volume of the nation’s economy.
“The discourse of this year’s reunion is our contribution to educating the populace on the urgency to define what really matters to us as a people.
“Look inwards for solutions to our needs and significantly reduce dependency on foreign ‘anything’ to really strengthen our economy,” he said.
The Vice-Chancellor of the institution, Prof. Simeon Bamire, appreciated members of UNIFEMGA for their laudable programmes by remembering their alma mater on a yearly basis through scholarships and other intervention projects executed in the university.
Bamire, who was represented by Prof. Yomi Daramola, Deputy Vice-Chancellor (Admin), said that he learned much from the guest speaker by saying “Your desk is your pulpit”.
He added that the institution would always support the association in areas of need.
The association had earlier paid a courtesy visit to the institution’s Vice-Chancellor and commiserated with the school management on the thunderstorm that destroyed the roof of the Amphitheatre recently.
Amongst dignitaries that graced the occasion wereProf. Olaolu Ali, Chairman and Pro-Chancellor of Federal University of Agriculture, Abeokuta; and Alhaji Rafiu Ebiti, Chairman Board of Trustees BOT of UNIFEMGA.
Others were Alhaji Fatai Kolawole, Baba Adeen of Osun; Alhaji Rasaq Balogun (ARAB); Prof. Abefe Sanusi, Chief Imam of OAU Central Mosque of Unity; and Prof. Olalekan Aransi, former Dean, Student Affairs.
