NESG Chair Urges Academia-Industry Alliance for National Progress at UNILAG Lecture

The Chairman of the Nigerian Economic Summit Group (NESG), Mr. Olaniyi Yusuf, has emphasized the urgent need for enhanced collaboration between the private sector and tertiary institutions to drive Nigeria’s economic transformation. He made this call on Tuesday, September 3, 2024, while presenting a thought-provoking paper titled Innovative Synergies for Transformational Growth: From Collaboration to Integration at the University of Lagos' (UNILAG) School of Postgraduate Studies Annual Lecture.

Addressing a diverse audience of academics, industry leaders, policymakers, and postgraduate students at the J.F. Ade Ajayi Auditorium, Mr. Yusuf stressed that Nigeria's unique challenges and the global economic landscape demand a more synergistic relationship between academia and businesses.

"Nigeria is a nation that needs help, but we don’t seem to be in a hurry to change," Mr. Yusuf remarked. "Our nation’s future depends on our ability to innovate, adapt, and create value. This can only be achieved when our centers of learning and our engines of economic growth work hand in hand."

The Guest Speaker, Mr. Olabisi Yusuf

He identified deep-seated distrust and mindset issues, including what he termed “mutual arrogance” between the academic and private sectors, as barriers to effective collaboration. Highlighting examples from other countries, Mr. Yusuf proposed key areas for cooperation, including curriculum redevelopment, research and development, internships, technology transfer, and continuous professional development.

Mr. Yusuf concluded his presentation with a rallying call: “Start Small, Start Now,” urging both sectors to take immediate steps toward meaningful collaboration.

UNILAG Vice-Chancellor, Prof. Folasade Ogunsola, OON, FAS, in her welcome address, supported the NESG Chair’s message. She affirmed the university's commitment to conducting research that addresses Nigeria’s pressing challenges, urging academics to work hand in hand with the private sector.

The SPGS Annual Lecture Series serves as a vital platform for discussions on education and national development. This year's edition resonated with Nigeria’s drive toward economic diversification and the essential role of higher education in achieving that goal. Attendees left the event hopeful that a new era of productive partnerships between academia and the business community could emerge from the discussions.