Covenant University Hosts National Budget Roundtable on Effective Foreign Exchange Management for Economic Growth
Covenant University hosted its sixth annual National Budget Roundtable focused on "Exchange Rate Management and National Budgeting for Sustainable Development in Nigeria."
Chris Oyeoku Okafor 
Covenant University recently hosted its sixth annual National Budget Roundtable, centering discussions on "Exchange Rate Management and National Budgeting for Sustainable Development in Nigeria." The event, organized by the Centre for Economic Policy and Development Research (CEPDER), brought together leading experts to address critical issues impacting Nigeria's economic landscape.
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Dr. Tope Kolade Fasua, the Special Adviser to the President on Economic Affairs, delivered the keynote address, highlighting the urgent need to mitigate Nigeria's high food inflation rate to prevent a severe national food crisis. Dr. Fasua emphasized the pivotal role of effective foreign exchange management in supporting economic stability and fostering sustainable growth.
Professor Abiodun H. Adebayo, Vice-Chancellor of Covenant University, underscored the profound impact of recent economic reforms during his remarks. He pointed out that reforms such as the removal of fuel subsidies and the unification of the exchange rate market have led to significant depreciations in the Nigerian naira against the US dollar. These changes, combined with substantial increases in fuel prices, have intensified inflationary pressures and operational costs for businesses across the country.
Dr. Obindah Gershon, Chair of CEPDER, stressed the importance of aligning national budgeting strategies with stable exchange rate policies to effectively achieve sustainable economic development goals. The panel discussion, moderated by Covenant University alumna Busola Jeje, featured insights from distinguished experts including Dr. Sola Oni, Dean of the School of Management and Social Sciences at Pan-Atlantic University, and Mr. Nnamdi Nwizu, Co-Managing Partner/Founder at Comercio Partners.
CEPDER, committed to linking rigorous research with government policies and industry practices, collaborates with esteemed partners such as Warwick University, KPMG, and the Africa Capacity Building Fund. The center’s initiatives span seventeen sub-clusters, aimed at advancing Africa’s Sustainable Development Goals through innovative research and strategic partnerships.
The roundtable concluded with a unified call for the Nigerian government to undertake comprehensive reviews of current economic policies. Experts advocated for measures to alleviate economic hardships and ensure the resilience of the national budget against future challenges posed by volatile exchange rates and global economic uncertainties.
The event at Covenant University served as a critical platform for stakeholders to deliberate on crucial economic issues facing Nigeria. With a focus on effective foreign exchange management and sustainable economic strategies, participants aimed to pave the way for inclusive growth and development in the country.
