Prof. Oluwole Familoni, the Deputy Vice-Chancellor, Academic and Research, University of Lagos, has urged the Federal Government to adopt a multi-disciplinary approach to quickly revamp the nation ’s economy.
Familoni made the assertion at the maiden edition of the International Conference of Science and Technology, Engineering and Humanity (ICSTEH) held at the Yaba College of Technology (Yabatech), Lagos.
The conference was organized by the Academic Staff Union of Polytechnics (ASUP), Yabatech chapter.
In his presentation entitled: “Global Economic Recovery, a Multidisciplinary Approach”, he said that Nigeria must focus on all areas of the economy to fully recover and overcome recession.
Familoni listed the sectors to explore as Agriculture, Mining, Medical, Entertainment, Tourism, Engineering, Sports and Aviation, among others.
He said that all areas must be developed simultaneously, adding that each of the sectors should contribute its quota to the economic growth.
According to him, there are so many areas that can increase the Gross Domestic Product (GDP) of the country and help in the economic recovery.
“If we use all our resources and develop them, everything will work well in our favour.
“We must focus on all areas; we need all of them to function at their maximum capacity.
“If all sectors of the economy are developed to their maximum capacity, then, the national economy will transform the country and recession will be far from us,” he said.
Familoni said that in view of the problem associated with the economic downturn, all hands must be on deck to get the country back on path of recovery so that the economy would be back on its feet.
The deputy vice-chancellor said that the country had neglected the development of almost all sectors of the economy to near exclusive development of petroleum industry.
He said even the petroleum industry was dominated by foreign labour, while major input in the sector were all imported.
“We only sell the crude at a price that is dictated by foreign powers with few jobs generated for the country.
“Therefore, multi-disciplinary approach will be the way to go in order to get our country back on track; that is why it must be a multi-disciplinary approach.
“Developing one area of the economy and neglecting others cannot achieve economic revival,” he said.
Also, Prof. Taiwo Asaolu, Department of Management and Accounting, Faculty of Administration, Obafemi Awolowo University (OAU), Ile-Ife, said that the country must engage in excellent researches that have social and economic impact.
Asaolu delivered the lead paper presentation entitled: “Bridging the Gap Between the Laboratory and the Market: The Pivotal Role of Management and Social Sciences Experts.”
He said research in the country was in a latent state because its findings were neither patented nor commercialised.
He listed challenges confronting commercialisation of research and development to include: insufficient entrepreneurial orientation and awareness, gap between researchers and the industries, and publishing for promotion.
“Knowledge is important but of greater importance is how we adapt to new knowledge and understand it’s applications,” he said.
In his remarks, Mr Obafemi Omokungbe, the Rector of YABATECH, said that the academia like other sectors, must rise to the occasion and proffer workable solutions.
Omokungbe, represented by Dr Taiwo Oyelola, the Deputy Rector, Academics in the college, said that theme of the conference was very relevant and apt.
He said the global economy was obviously weak and efforts toward its recovery have not yielded the desired results.
“This is the first of its kind in the history of our great institution and it is in line with our vision of widening the magnitude of our interaction with the academia, researchers, business community.
“This conference is thus geared toward the development of a multidisciplinary approach to solving global economic challenges,” the rector said.
Earlier, Mr Nureni Yekini, the ASUP Chairman, Yabatech, said the conference was to promote universal respect for academic publication and research as the basic tools for development.
Yekini urged researchers to publish and produce the result of their research works.
The international conference started from Sept. 18th and is billed to end on 20th.
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