Vice-Chancellor Covenant Tasks Government To Increase Revenue Generation Through Economic Diversification

VC, Covenant, Professor Adebayo

The Vice-Chancellor, Covenant University, Ogun State, Prof. Abiodun Adebayo, has advised the government to improve on the other sectors of the economy to increase revenue generation.

Speaking at the maiden edition of the College of Basic and Applied Sciences Conference, Mountain Top University, Ogun State, Adebayo said the industrial sector should be revamped so that the country could produce some things on its own and stop being a solely importing nation.

The CBAS conference was titled, ‘Unforeseen COVID-19 Disruption: Surmounting the Unintended Tension Towards Economic Rejuvenation and Sustainable Development.’

Adebayo who was the keynote speaker, said, “The country should improve on the other sectors of the economy, for example, agriculture, tourism, education so as to increase revenue generation, they should fight corruption to the barest minimum.

“The level of corruption in Nigeria is so bad that Transparency International has ranked Nigeria as one of the most corrupt countries in the world. Reduce the cost of governance; the cost of governance (taking care of the legislative arm of the government) is so high. It has been observed that Nigerian legislators are among the highest paid in the world.”

The VC, MTU, Prof. Elijah Ayolabi, advised stakeholders in the education sector to leverage Information Communication Technology.

“You must have a new way of doing things, a new approach, we must leverage on ICT in order to carry out the bulk of our activity, universities should migrate to blended mode and we all must wake up to the use of ICT to drive our economy.”

Also speaking, the Chief Executive Officer, ELdin Consultant Limited, Mr. Dave Inyere, suggested that for sustainable growth development to occur, ‘It is recommended that every nation should focus on building the recovery programmes around the “four pathways” recommended by the World Bank; which are breaking the oil dependency, building human capital, promoting private sector-led growth, and rebuilding social contracts-job creation, poverty alleviation, and export as well as revenue diversification.”

The acting Dean, CBAS, MTU, Dr Edwin Ofudje, explained that the conference was organised to assess the positive impact of COVID-19 and the various benefits derived from the pandemic.

He said, “There should be new ways of doing things, innovation and investment in science and technology, improving our health and educational systems. The University should introduce hybrids system of learning which welcomes both physical and virtual they should embrace ICT.”


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