Non-Oil Exports Remedy for Nigeria’s Economic Woes- Abba Bello
…. Urges Increased Funding to Improve Human Capital Devt.
The Federal Government has been urged to develop human capital by increasing funding to the education sector, especially science and technology education, adding that non-oil exports remain a remedy to Nigeria’s economic development.
The Managing Director/Chief Executive Officer of Nigerian Export-Import Bank (NEXIM), Mr. Abba Bello made the appeal while delivering the seventh convocation lecture of Achievers University, Owo, Ondo State.
The NEXIM Chief noted that the move would boost the sector and ensure less dependence on crude oil.
Bello who said government should also promote research and development to enhance innovation in tertiary institutions, added that the competitiveness of the exports sector will be boosted by so doing.
While delivering the lecture titled, “Non-oil exports: Panacea for underachievement of Nigeria’s economic potentials,” he said Science, Technology and Innovation (STI) Policy should be fully implemented to enhance funding of research in tertiary institutions.
He said the country stands to benefit greatly by the enhancement of its intellectual property rights and patent registration.
“The review of our education curricular should be undertaken to promote entrepreneurship development,” he said.
He attributed the low level of growth of non-oil exports sector to issues relating to funding, production, logistics and quality standards.
In his remarks, the university’s Pro Chancellor, Dr. Ayorinde Olabode, also a federal legislator representing Owo Ose federal constituency, a frontline campaigner for sustainable economic development, appealed to Universities in Nigeria, Veritable ivory towers to create centers of excellence that would stop the outflow of education funds from the country.
According to Dr Bode Ayorinde, the Universities in Nigeria are pivotally positioned for significant contribution to the current national quest for economic recovery in Nigeria.
“In addition to the traditional role of developing the human resource needed to move the country forward, they also have a role to play in developing and conserving the much needed foreign exchange” he said.
Dr. Bode Ayorinde, highlighted the huge potential available from the Education Sector “With the creation of centres of excellence, parents will no longer spend precious foreign exchange sending their children to colleges outside the country rather we will find nationals of other countries sending their children to attend these centres, bringing foreign currency into the country,” he said.
The convocation lecture was part of events to celebrate the tenth anniversary of Achievers University Owo, Ondo State Nigeria