A Professor of political economy and entrepreneurship coach, Patrick Utomi, has harped on universities collaborating with the industries in problem-solving research that can substantially lift Nigeria and its people out of poverty.
Utomi made this assertion as a keynote speaker at an event to reopen the Centre for Research in Enterprise and Action in Management (CREM), in Lagos, recently.
He said until such collaboration activities are encouraged and put to practice between town and gown, it will be difficult for the Nigerian economy to move forward appreciably.
He said business activities across fields of endeavours including a government required research and innovations that are backed up with technology and being carried out in line with best global practices.
Speaking on the theme of the event, “Promoting research, learning and innovation as key drivers to economic growth,” Utomi, who is the founder of the Center for Values in Leadership, said every businessman and woman would need to always search for a better way of engagement in their operations so as to be able to satisfy customers and maximise profit.
He said even though they may face one challenge or the other along the line, all they need to do is to invest in evidence-based research and be more innovative.
He, however, commended CREM for contributing significantly to knowledge acquisition, research and training of human capital among others within four years of establishment, saying the efforts are already yielding positive results.
Utomi, who lamented that governments across levels are grossly under-funding research activities, particularly in universities, urged the various levels of government to wake up in that regard and take the lead in research funding in the country.
In his opening remark earlier, the chairman of CREM, Dr Godwin Nwabunka, said Nigeria is a large market with many business opportunities but only those with entrepreneurial and creative spirit can provide products and services capable of satisfying people’s needs that can utilise the opportunities to maximise profit and better the society.
He said good research is what will generate the right information, data, and evidence that are needed either to start a new business or to grow and develop the existing ones irrespective of size: micro, small, medium or large scale in both the public and private sectors.
He said most times funding is not actually the problem of growing business but a lack of knowledge and foresight to provide the right products and services that meet people’s satisfaction.
In his own presentation, the Chief Operating Officer of CREM, Mr Clifford Onyeike, said the company would continue to contribute to evidence-based research and development as well as training of human capital, among others.
He said CREM organised the roundtable discussion at the relaunch event for participants to share knowledge and experiences that can help them to grow and develop their businesses or organisations back home.
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