A don from the Department of Economics, University of Ibadan, Professor Ibi Ajayi says Nigeria should begin to create an emerging environment for knowledge delivery and develop a knowledge economy by spending appropriately on Research and Development (R&D).
He also noted that the proliferation of universities is not the answer to developing a knowledge economy, but adequate funding of the existing ones to the world-class level to enable the society to benefit, adding that “the future is here and the competition will be knowledge-based.”
Professor Ajayi stated these as the keynote speaker at the maiden international conference on Humanities, Management and Social Sciences (DUICHMSS), of the Dominican University, Ibadan (DUI), held recently at the Tom and Carolyn Walker Hall of the institution.
The theme of the three-day hybrid international conference attended both physically and virtually was “Innovative Strategies and Capabilities for Adapting to the New Normal.”
Speaking on the theme of the conference he noted that in the long run, the coronavirus crisis had provided an opportunity for Africa to transform itself, build institutions, diversify its economy and address structural bottlenecks, some of which he said had been crying for attention for years, but ignored by succeeding regimes.
He, however, acknowledged that COVID-19 came to Nigeria at a worst time when the country was still grappling with the problem of poverty and inequity, unemployment of graduates of tertiary institutions, infrastructure and the menace of insecurity, kidnapping and banditry.
He recommended that leveraging on technology is key in this era of the new normal, saying the faster adoption can lead to an expansion of access to finance, as well as creating new economic opportunities
“There is no doubt that the digital revolution can transform the public sector. What is seen around the world is a switch of programmes from in-kind and cash delivery to digital delivery, direct to people’s bank account and shown on their phones,” he said.
He reiterated that Nigeria could not make progress unless it became innovative, adding that “Nigeria must live into and beyond the 21st century. Good leadership can lead us to the land of our dreams.”
Speaking at the special guest of honour at the event, director of Special Investigation and Deputy Auditor General for Local Government, Oyo State, Professor Oyelakin Awobode, said, the emergence of Covid 19 had brought a new world order and the world at large is changing and growing at a faster pace with the help of a high digital information technology.
He said: “If we must adapt to the new normal we must increase our learning ability, in technology, artificial intelligence, emotional intelligence and other technological innovations in all the sectors of the nation.”
According to him, the traditional 20th century school system is outdated and schools cannot afford to continue to use the same method to achieve a better result.
He therefore suggested that teaching systems must undergo a thorough revision, saying that “the students must be educated and trained in digital skills and this will help to adequately develop them for career opportunities that await them out there.”
The vice chancellor of the university, Rev. Fr. Professor Anthony Akinwale, in his welcome address, noted that part of the university aspiration as an academic community is to be a universe of knowledge to study human existence from the various provinces, fields and subject speculations, hence the rationale for the international conference on Humanities, Management and Social Sciences.
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