A solicitation directed towards the Ogun State Government to utilise the specialised knowledge of economists within the decision-making frameworks of the State has been recognised as an essential mechanism that could facilitate the formation of a robust alliance with practitioners in this discipline. It would enable the State to fully realise its inherent capabilities and opportunities as the ‘Gateway State’.
The Chair of the DePECOS Institutions and Development Research Centre (DIaDeRC), Professor Evans Osabuohien, articulated this observation while delivering the Keynote Address during the inauguration of the Nigerian Economic Society (NES), Ogun State Chapter, which took place on Thursday, February 20th, 2025, at Federal University of Agriculture, Abeokuta (FUNAAB).
In his address entitled ‘The Economy and The Economists: Closing the Gaps,’ Professor Osabuohien asserted that the State Government could derive significant insights, arrive at well-informed decisions, and execute effective policies by soliciting the contributions of economists to guide their strategic undertakings. He stated, “We can close the gap between economists and the economy by collaborating to foster a flourishing Ogun State,” he remarked.
Professor Osabuohien emphasised that economists, by virtue of their academic training, possess the aptitude to scrutinise and interpret economic patterns, provide policy recommendations, anticipate future economic developments, and evaluate the repercussions of regulations on the broader societal framework.
The Professor of Economics from Covenant University conveyed that Ogun State, owing to its geographical advantages, is uniquely situated as an industrial nexus, boasting over 50% of Nigeria’s industrial investments since 2014; he underscored its significance as a hub of industry, augmented by substantial agricultural capabilities that remain ripe for further enhancement and modernisation.
Professor Osabuohien observed that there exists a limited degree of integration among the development plans of the 20 Local Government Areas (LGAs), consequently impeding a unified and coordinated strategy for economic advancement. He noted that considerable data deficiencies persist within the informal sector, which is estimated to comprise approximately 60% of the economic activities within the State.
He advocated for the amelioration of existing disparities among the private sector, government, and academic institutions to fully harness the state’s potential in delivering optimal benefits to its populace. “The synthesis of theoretical frameworks and practical applications is imperative for the economic progression of Ogun State, incorporating local challenges into economic curricula, translating scholarly research into actionable policies, and promoting partnerships between enterprises and policymakers,” he asserted.
Professor Osabuohien, who serves as the Coordinator of the African Scholars Mentorship Network (ASMN), underscored the interrelationship among governance, economics, and various facets of the daily lives of the State’s residents. He noted that the State Government should capitalise on the establishment of the NES, Ogun State Chapter, to devise solutions to the economic dilemmas faced by the region, emphasising that the presence of NES is invariably regarded as a strategic asset.
“The NES Ogun State Chapter signifies a crucial advancement in closing the extant gaps, serving as an indispensable platform for economists to engage with governmental entities, providing expert recommendations and evidence-based remedies, while concurrently, we anticipate the State Government to capitalise on the collective expertise and insights of its members to advance economic prosperity,” he expressed with enthusiasm.
Professor Evans Osabuohien who is a member of the NES Governing Council, joined the President (Prof Adeola Adenikinju) in inaugurating the executives for the Ogun State Chapter. Professor Comfort Amire (Crawford University) who is the Chairperson for the Chapter appreciated the opportunity to serve in her remark, on behalf of the executive.
The event attracted academics, policymakers, industry practitioners, security personnel and students passionate about addressing economic challenges and opportunities in Ogun State and beyond. Other dignitaries at the event include: Prof Olusola Kehinde (Vice Chancellor of FUNAAB), Mr Jola Oyeneye (Permanent Secretary, Ogun State Bureau of Public Service Reform), Mrs Yemisi Folarin (Director of Investment, Ogun State Ministry of Industry Trade and Investment, who represented the Commissioner of the Ministry and the Governor), Royal Fathers in Egbaland, Chairman of the host LGA, among other.
