NEWS AGENCY OF NIGERIA

FG’s economic reforms will yield positive result- VC

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By Funmilayo Adeyemi

The Vice-Chancellor of the African School of Economics, Prof. Mahfouz Adedimeji, has predicted that the various economic reforms introduced by the Federal Government will soon yield positive results.

 

Speaking at the school’s second edition of its Public Lecture on Thursday in Abuja, Adedimeji said the reforms would soon have a multiplier effect on the economy.

 

“One of the things that we see in the economy now is that the currency is gaining more value against the dollar. We can also see that the price of fuel has reduced.

 

“So the only hope is that there will be a reflection of that in the remaining sectors of the economy.

 

“The optics are good as they stand, and one has every reason to be confident that Nigeria’s economy will pick up as a result of the reforms the Federal Government has put in place,” he said.

 

Adedimeji explained that the lecture was organised to draw insights from other parts of the world to advance Nigeria’s economy.

 

“The primary problems that human beings face are economic in nature; what to eat, what to wear, and where to live.

 

“As a way of advancing discourse on solving our economic problems and addressing our economic challenges, we brought in an Irish economist to talk to us about ways to solve these issues,” he said.

 

Susan HayesCulleton, from Ulster University, Northern Ireland, while delivering her lecture on “Economic Growth Models: The Ireland Experience”, urged Nigeria to develop the entrepreneurial capacity of its people to foster economic growth.

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HayesCulleton said it was time for Nigeria to learn from Ireland by improving the efficiency of businesses to make them more sustainable.

 

She added that partnerships were also essential to overcoming the challenges of a changing environment while building international relationships.

 

“The Irish people and the Irish business culture look outward and engage with their diaspora, and Nigeria has a huge capacity to do the same.

 

“They can also achieve this by enabling people to become proficient in Artificial Intelligence (AI) to enhance website development, e-commerce, and other business ventures.

 

“So there are plenty of opportunities for Nigeria to leverage its population and, of course, collaborate with Ireland for mutual benefit,” she said.

 

She encouraged Nigeria to embrace AI in developing sustainable energy sources by upskilling its people to provide solutions to emerging challenges.

 

“A significant challenge that we face as business leaders in relation to AI is twofold.

 

“First, energy consumption, we need to develop more sustainable energy sources to power AI operations.

 

“Secondly, we must ensure that people are adequately upskilled to manage and maximise the potential of AI.

 

“AI is a new development, but we must consider how we can build our capacity to train AI while also strategically and ethically integrating it into our businesses.

 

“In addition, we need to align technological advancements with workforce productivity so that society as a whole benefits,” she added. (NAN)(www.nannews.ng)

Edited by Tosin Kolade

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