UNIOSUN V-C lists challenges facing businesses

By Chris Onuoha

LAGOS—Vice Chancellor of Osun State University, Osogbo, Prof. Labode Popoola, has identified over-dependence on mono product economy, inability to understand what good leadership is about, poor business planning and management, among others, as some of the challenges currently confronting Nigeria.

Popoola, who made these observations, yesterday, in Lagos, while delivering a lecture, entitled, “The Nigerian Business Climate: Challenges of an Under-exploited Economy,” at the 2017 seminar and launch of a book, entitled: “Law, Hospitality and Tourism” written by Goodie Ibru, bemoaned the short-sightedness and inability of government and Nigerian business leaders to see beyond oil and tap into unexploited sectors of the economy.

According to him, the simplest things in Nigeria are often complicated by sentiments and wrong perceptions.

Poopola said: “Nigeria has an environment that is favoured with expansive space of more than 92,3000 kilometres. The strength of population and the diversity across the lines, which ordinarily should be viewed as strength and the basis for sustainable development is sadly often politically exploited with deleterious effects on the political-economy of the country.”

According to him, there are indications that earnings from crude have been on the increase over the quarter of a century, in spite of sporadic oil slumps.

He said: “This, ordinarily, is expected to bring about more production, consumption, expanded human resources, capacity for innovation and investment, robust economy integration, among others.

“However, these indicators may be described as ‘coat of many colours’, implying huge opportunity for business and investments to thrive in the country.”

Earlier in his welcome address, the celebrant, Mr. Goodie Ibru, said it was sad that Nigeria was still over-dependent on mono product. He, however, argued that if Nigeria had to diversify, tourism and hospitality should be the next industry to look into.

Chairman of the occasion, Alhaji Bamanga Turkur, who was represented by Ambassador Oluwole Coker, highlighted some vital untapped areas of Nigerian economy as tourism, agriculture and the manufacturing sector, with regards to untapped, numerous natural resources Nigeria is endowed with.

The keynote address was delivered by Chief Victor Oyolu, Chairman, Capital Hotels Plc while a panel of discussants included Dr. Remi Oni, Executive Director Corporate Banking Group, FBN Ltd; Mr. Yomi Badejo Okusanya, Managing Director, CMC (Connect), and Professor Joseph Abugu, Faculty of Law, University of Lagos.

Other eminent personalities that graced the occasion includes Erelu Abiola Dosumu, Chief Victor Oyolu, Justice Nduka Obi, Dotun Ajayi, Comrade Adeyemi Adewole, Miss Biola Oseni, Alhaji W. A. Disu, Robert Itawa, Venerable Muyiwa Oyewole, Muda Yusuf, DG, Lagos Chamber of Commerce and Industry, Mrs. Funmi Sanusi, Mrs. Kara Adetoyin, Lanre Idowu and others.

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