President Bola Ahmed Tinubu has called on researchers and tertiary institutions across Nigeria to develop practical, home-grown solutions to address the country’s pressing socio-economic challenges.
Speaking during the 34th and 35th convocation ceremonies of the Federal University of Technology, Akure (FUTA), President Tinubu, represented by Professor Wahab Egbewole, SAN, Vice Chancellor of the University of Ilorin, emphasized the importance of collaboration between academia, industry leaders, and the government.
He stated that with collective efforts from stakeholders within the university system, maintaining a stable academic calendar is achievable.
“Our research institutions are crucial at this moment. The current economic challenges require them to contribute ideas that will improve the lives of Nigerians and create a prosperous nation,” Tinubu said.
The president urged researchers to deliver innovative solutions that address local problems and called on private sector players to partner with universities to turn research findings into tangible results that benefit the economy and the people.
“We must also focus on training students for entrepreneurship to build a skilled and innovative workforce capable of driving our economy forward,” he added.
Reflecting on the state of the economy when his administration took office, Tinubu acknowledged the burden of fuel and dollar subsidies that had deepened the country’s financial woes. He noted that although these subsidies were intended to support the poor, they ultimately failed to improve living standards and instead pushed the nation towards economic collapse.
“Removing fuel subsidies and unifying exchange rates were difficult decisions, but they were necessary to secure the future of our children and prevent the total collapse of our economy,” he explained.
The president admitted that these policies have had tough consequences on Nigerians but assured that the sacrifices are already yielding results. He said the macro-economy is showing significant improvement, and the micro-economic benefits, which directly impact citizens, are gradually becoming evident.
Tinubu concluded by reaffirming his administration’s commitment to building a stable and prosperous Nigeria, calling for unity and collaboration to achieve this goal.
