"Taking Advantasge Of A Depressing Nigeria Economy To Accelerate Socio-Economic Development" (2013/2014 Convocation Lecture University Of Lagos)
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Date
2015-04-27
Authors
Okebukola. P.
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University of Lagos Press and Bookshop Limited
Abstract
This paper critically examines Professor Peter A. Okebukola’s 2013/2014 Convocation Lecture delivered at the University of Lagos, which offered an optimistic and strategic outlook on navigating Nigeria’s economic downturn. The lecture posits that despite prevailing economic challenges—characterized by declining oil revenues, high unemployment, infrastructure decay, and a strained education sector—Nigeria retains significant potential for socio-economic advancement. Okebukola argues that crises such as economic depressions often serve as catalytic moments for transformational change, if properly managed. Drawing from historical precedents and empirical data, the speaker advocates for an urgent rethinking of national priorities, with emphasis on investment in human capital, science and technology, education reform, and the diversification of the economy beyond oil dependency. He identifies education—particularly higher education—as a cornerstone of innovation and productivity, urging the government to make targeted investments in research, entrepreneurial education, and vocational training to reposition Nigeria competitively in the global economy. Furthermore, he calls for improved governance, reduction of systemic corruption, and a stronger focus on youth empowerment as critical levers for change. The address underscores the role of universities as think tanks for public policy and as engines for sustainable development, especially during periods of fiscal austerity. In conclusion, Okebukola delivers a message of hope: that with the right policy choices, Nigeria can turn its economic distress into an opportunity for comprehensive development and global relevance.
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"Taking Advantasge Of A Depressing Nigeria Economy To Accelerate Socio-Economic Development" . 2013/2014 Convocation Lecture Delivered at The Main Auditorium, University Of Lagos
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Citation
Okebukola, P. A. (2015). "Taking Advantasge Of A Depressing Nigeria Economy To Accelerate Socio-Economic Development" . 2013/2014 Convocation Lecture Delivered at The Main Auditorium, University Of Lagos, 62p.