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March 3, 2024
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Engineers pledge innovative measures for Nigeria’s economic recovery

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The newly inaugurated Lagos Chapter Chairman, Nigerian Institution of Mechanical Engineers (NIMechE), Mr Omobayowa Erinle and his wife (middle) flanked by other dignitaries during Erinle’s inauguration as the 8th chairman of the branch, on Saturday in Ikeja.

 

By Grace Alegba and Bolu Akindoyin

The Lagos Chapter of the Nigerian Institution of Mechanical Engineers (NIMechE) has promised innovative measures to help tap the nation’s opportunities for rapid development, to boost the country’s GDP.

The newly inaugurated Lagos Chapter Chairman, Mr Omobayowa Erinle, made the pledge while making his inaugural speech in Ikeja on Saturday.

Erinle said enormous challenges of infrastructure and manufacturing deficit were opportunities waiting to be tapped.

He said these were opportunities for local engineers to close the gap to create pathway to economic prosperity and recovery.

Erinle said the current economic and social challenges had increased inflation rate to 28 per cent, putting pressure on income of people and organisations.

“Thus, our GDP which should be growing at the rate of 5% and above is stagnated to 1.5-2.5%, well below the population growth rate,” he said.

He said the situation had increased insecurity, poverty and brain drain which had depleted manpower quality needed to manage technical and physical infrastructure as well as manufacturing sector.

“Our administration in the next two years is determined to make huge impact despite the current state of the nation as outlined above.

“We want to be the spark that will ignite changes which will have impact on the economic prosperity of our nation and particularly Lagos State,” he said.

Erinle listed strategies his administration would adopt to include collaboration with engineers in diaspora, partnership with the academia, industries, professional bodies, the Lagos State and federal government, among others.

The eighth chairman said the challenges were huge opportunities for growth, adding that, no nation had developed economically without significant inputs from the engineering society.

Erinle called for collaboration between engineers, all levels of government and the private sector to overcome the challenges and create pathway to economic prosperity for all Nigerians.

The chairman added that his administration would continue to use the Mechanical Engineering Technology Advancement Academy, Iperu-Remo, to mentor graduates.

He said Lagos NIMechE was currently supporting an engineer and traditional ruler, Oba AbdulWahab Ogunbiyi, who designed and produced prototypes of fish dryer, paving store production machine and mechanical farm cultivator.

“We plan to birth more inventors in the next two years. The journey through our two years administration will be very exciting and fast paced.

“Our country, Nigeria, needs to enjoy our best efforts in order to solve our societal issues for the benefit of our people,” he said.

The Guest Speaker, Otunba Funso Owoyemi, who received an award at the event, explained how to prevent systemic fraud in engineering projects and firms.

Owoyemi, who is the Managing Consultant, FDO Consultants Ltd., also explained accounting procedures needed to ensure profitability, to prevent bankruptcy.

Speaking on the topic: “Business Accounting Principles for Engineers: Analogue and Digital Perceptive”, he explained control mechanisms to check inflation.

The guest speaker explained procedures for proper budgeting and auditing that engineers could adopt, leveraging technology to prevent illegal transactions.

He gave detailed history of how various technological eras led to the collapse of leading industries and measures businesses must adopt to prevent liquidation.

“Any accountant today must be computer friendly, must be software friendly,” Owoyemi said.

NIMechE National Chairman, Mr Alhassan Mohammed, congratulated the newly inaugurated chairman and his executives, advising them to lead with vision, foster collaboration and strive for innovations.

Mohammed, who was also chairman of the occasion, said NIMechE had been a beacon of excellence, fostering advancements in mechanical engineering across the nation.

“Today’s ceremony is a testament to the commitment and dedication of the institution to progress and innovation,” he said.

The News Agency of Nigeria (NAN) reports that the traditional ruler, Oba Abdulwahab Ogunbiyi, Eleku of Odo-Eku, Kwara, received an award for his inventions.

Dr Olufunmilade Akingbagbohun, immediate past NIMechE National Chairman, also received a Distinguished Excellence Award, among other awardees. (NAN)

Edited by Oluwole Sogunle

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