The President of the Nigerian Economic Society (NES), Professor Adeola Adenikinju, has charged young professionals in the field of economics to recognise that the calling is beyond a study but the backbone of societal progress and development.
Professor Adenikinju, represented by the Founding Chair of DEPECOS Institution and Development Research Centre (DiaDeRC), Professor Evans Osabuohien, who is a member of the NES Governing Council, made the call during the induction ceremony for graduating class of Economics Students at Bells University of Technology, Ota, Ogun State.
In his presentation at the induction ceremony titled, ‘The Role of Economists in a Turbulent Global Economy’ Professor Evans Osabuohien said as emerging economists, the new inductees hold the key to unlocking the potential of Nigeria’s economy, and Africa. According to him, “Your insights and innovations will help shape policies, drive growth, and create opportunities for millions of Nigerians and Africans”.
Professor Osabuohien, who was accompanied to the ceremony by NES/NESA Coordinator at Covenant University, Dr Oluwasogo Adediran, said the induction exercise marked a significant milestone in their academic and professional journey, transitioning from students to professionals, saddled with the arduous task of contributing to the economic development and prosperity of the nation.
He charged the Society’s new members to recognise that at the core of economics is making choices in the face of scarcity, and as a field of study, it is expected they have all been equipped with the requisite skills and knowledge to allocate resources efficiently and make informed decisions that can lead to sustainable growth and development.
He reiterated the importance of economics as it avails the society a pivotal knowledge to tackle pressing issues such as poverty, unemployment, inflation, and inequality. “Economics is integral to the formulation of public policy. By analysing data and trends, economists can provide critical insights into how policies will impact different sectors of the economy. Whether it is determining the best ways to stimulate economic growth, manage public debt, or address social welfare, economists play a vital role in guiding policymakers toward decisions that benefit society,” he added.
Professor Evans Osabuohien said the importance of economics extends beyond national borders, as they are principles that could be applied daily in international trade, foreign investment, and global financial markets, especially as Nigeria seeks to strengthen its position in the global economy.
He charged the new members of the NES to recognise that their expertise will be essential in navigating these complex interconnections towards ensuring that Nigeria reaps the benefits of globalisation while mitigating its risks.
“We are living in a time of unprecedented challenges and opportunities. The global economy is evolving rapidly, influenced by technological advancements, shifting political landscapes, and pressing environmental concerns. At a recent conference, such avalanche of occurrences has been dubbed VUCA (Volatile, Uncertain, Complex and Ambiguous). Denoting that our global economy is characterised with lots of Volatility, Uncertainty, Complexity, and Ambiguity. As new members of NES, you are now part of a community dedicated to understanding and addressing these complex issues,” he posited.
Professor Evans Osabuohien said the NES has a long-standing tradition of promoting research, dialogue, and policy formulation for economic development, with the Society serve as a platform for economists to collaborate, share knowledge, and contribute to the advancement of economic science in Nigeria. “As NES members, you are encouraged to actively participate in our activities, such as conferences, workshops, and seminars. These events provide invaluable opportunities to network with established professionals, learn from leading experts, and stay abreast of the latest developments in the field of economics,” he added.
The team from NES had earlier on paid a courtesy to the Vice-Chancellor, Professor Jeremiah O. Ojediran alongside the Dean, College of Management Sciences, Professor Bibiana O. Njogo; Head, Department of Economics, Accounting and Finance, and a few of their faculty members including Economics Programme Coordinator, Dr Akinyemi Ajibola.
Professor Ojediran expressed deep appreciation to the leadership of NES for the visit and induction which serves as a pathway for professional guidance to the young upstarts in the profession of economics
A total of 36 economics graduands were inducted into the Society at the event witness by a cross-section of faculty, staff and industry professionals in the field of Economics. The event also served as an avenue for the DIaDeRC Chair to parley and interact with some DIaDeRC and African Scholars Mentorship Network (ASMN) members, alumnus and mentees including Loveth Ode-Omenka, Dr Akinyemi Ajibola, Christiana Hassan, among others.
At the end, Professor Evans Osabuohien was presented with ‘Award of Excellence’ for his presentation by the Deputy Vice Chancellor, Bells University of Technology, Professor Pearl Okpoko, who represented the Vice-Chancellor at the event.
