LAUTECH convocation lecture: BOI CEO advocates tech-driven productivity for Nigeria’s economic transformation
pannigeriannews
2 min read
By Sunday Adepoju
Nigeria must transition from being a talent-rich nation to a productivity-driven powerhouse through the deliberate deployment of technology and innovation to boost its economy and internally generated revenue (IGR).
This was the submission of the Managing Director/Chief Executive Officer of the Bank of Industry, Dr Olasupo Olusi, while delivering the 18th Convocation Lecture of Ladoke Akintola University of Technology (LAUTECH), Ogbomoso, on Tuesday.
Speaking on the theme, “From Talent to Productivity: Organising Tech-Driven Growth for Nigeria’s Economic Transformation,” Olusi emphasised the need for Nigeria to harness its vast human capital, being Africa’s most populous nation, for sustainable development.
The lecture, held at The Great Hall of the institution, drew the attendance of university management, governing council members, academics, professionals, students, corps members, and other stakeholders.
Dr Olusi charged academic institutions, like LAUTECH, to prioritise practical and technical solutions to Nigeria’s pressing challenges.
According to him, the country’s path to growth lies in empowering its youth through technology and innovation.
He, however, expressed concern that many Nigerian products remain largely consumed within the local market.
He emphasised the need for Nigeria to scale production for global competitiveness.
Addressing graduating students, Olusi urged them to become job creators rather than job seekers, stressing the importance of solving real-world problems, focusing on production over profit, and applying technology, knowledge, and integrity in their pursuits.
“What is important is to communicate to Nigerians that the technology required to advance our economic aspirations is already available.
“What we need to do is leverage this technology to address longstanding challenges….whether in food production, food security, manufacturing transformation, or job creation, by integrating innovation into the productive environment.”
On the role of BoI in driving technological advancement, Dr Olusi explained that the institution is leveraging innovation in two key ways.
“First, within our own operations, we are building our online platform, which will be launched soon. Second, we provide targeted financing to innovative enterprises. Many of these businesses are already delivering impactful solutions in areas such as agriculture, manufacturing, and sustainability,” he said.
Olusi commended the Vice-Chancellor of LAUTECH, Prof. Rasaq Olatunde Rom Kalilu, alongside the university’s leadership, staff, and students for fostering a culture of innovation.
He further lauded the institution’s research and product development efforts, noting that LAUTECH is not only producing skilled graduates but also tangible solutions.
“I was particularly inspired by the products coming out of LAUTECH, not just in terms of talent, but actual innovations. The university is producing functional food solutions that could address health concerns such as diabetes, hypertension and respiratory conditions,” he noted.
He added that the exhibition of innovations during his visit was both enlightening and encouraging, describing it as a pointer to the institution’s commitment to practical, impact-driven research.
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