Tinubu Defends Economic Reforms, Calls For Innovation At FUTA Convocation.
President Bola Ahmed Tinubu has acknowledged the challenging effects of his administration’s economic reforms, including the removal of fuel subsidies and the unification of the exchange rate. Speaking at the 34th and 35th combined convocation ceremony of the Federal University of Technology, Akure (FUTA), Tinubu emphasised that these measures were essential to prevent Nigeria’s economy from collapsing.
Represented by Professor Wahab Egbewole, Vice-Chancellor of the University of Ilorin, Tinubu described the previous economic state as a “fake good life” that required urgent correction. “The strategic decision to remove fuel subsidies and unify the exchange rate was taken to salvage the country’s future and pull it back from the brink,” he stated, noting that the reforms are already yielding positive outcomes.
Tinubu expressed optimism about the nation’s economic trajectory, highlighting improvements in the macroeconomic landscape and gradual stabilisation of the microeconomic framework. He affirmed his administration’s commitment to transitioning Nigeria from a consumption-driven to a production-based economy.
Focus on Research and Collaboration
The President urged Nigerian researchers to develop innovative solutions to the nation’s challenges, encouraging collaboration between tertiary institutions and the private sector to translate research into tangible benefits for the economy and citizens.
“Our intellectuals and experts, on whom the nation has invested massively, are migrating overseas in large numbers at a time when their services are most needed at home. This administration is committed to restoring the glory of the Nigerian educational system, free from the disruptions of strikes and protests,” Tinubu said.
State Support for Education
Ondo State Governor, Lucky Aiyedatiwa, also addressed the convocation, reaffirming his government’s dedication to supporting education, innovation, and development. “We prioritise the welfare of the state-owned tertiary, secondary, and primary institutions through budgetary provisions, regular salaries, and financial interventions,” he said, promising to increase efforts in the coming years.
Recognition and Achievements
FUTA’s Vice-Chancellor, Professor Adenike Temidayo Oladiji, announced that 6,405 students received their first degrees, while 1,280 earned postgraduate qualifications. The university also conferred the title of Professor Emeritus on three distinguished academics: Professors Adebisi M. Balogun, Emmanuel Akinyele Olusegun Laseinde, and Labunmi Lajide.
Honorary degrees were awarded to Professor Daniel O. Olukoya (MFM General Overseer), Mr. Joel Ogunsola, and Mr. Ayorinde O. Ogunruku in recognition of their contributions to society.
The event celebrated academic excellence while underscoring the importance of innovation and collaboration in addressing Nigeria’s economic and educational challenges.
