Prof. Samuel Onasanya of the University of Ilorin, on Saturday, called on the Federal Government to allow free flow of the naira, modernise agriculture and stabilise the oil sector to end recession.
Onasanya, the university’s Head, Department of Educational Technology, made this assertion while delivering a lecture at the Federal College of Education (FCE), Osiele, Abeokuta, 2017 Alumni Foundation Day Celebration held at the school premises.
The professor of Educational Technology, spoke on the topic: “Alumni Association and the Alma Matter in a Recession Period”.
Onasanya explained that Nigeria needed to expand her export earnings and production base through wise investment.
The guest lecturer reiterated that increase in agricultural produce and export would end recession and take Nigeria to the real position of giant of Africa.
“In the 1960s, agriculture was the mainstay of the nation’s economy in terms of Gross Domestic Product (GDP), foreign exchange earnings and employment.
“Agricultural practice should be made lucrative among youths with the the availability of modern equipment and credit facilities that can enhance mechanised farming.
“Nigeria needs to expand her export earnings and production base through wise investment, otherwise she might likely end up in a situation where resources cannot support the population,” Onasanya said.
He advised the government to reduce tax rates on individuals, small businesses and corporation by lowering the tax rate by 10 per cent, adding that investors would be encouraged by tax reduction.
Onasanya noted that the global economy had been in recession and that the global economic potential growth and the actual growth performance only widened over the period of the crisis especially in 2016.
He said that it was evident that the government had taken some economic steps towards ameliorating the effects of the recession such as the elimination of the purchase privileges for importers of some items.
Onasanya, an alumnus of FCE, lauded the organisers of the event, saying that the programme should be an annual event to deliberate on how to move the institution forward.
Gov. Ibikunle Amosun of Ogun, also lauded the management, staff and alumni association of the institution for celebrating its 40 years of existence.
Amosun, who was represented by the Commissioner for Education, Science and Technology, Mrs Modupe Mujota, said that his administration placed emphasis on quality and affordable education.
The governor called on philanthropists, associations and public spirited organisations to support the state government through massive co-investment in education, as it remained the bedrock of development.
Dr Ayodele Ajayi, the provost of the institution, said that the college awarded NCE and degree certificates in collaboration with the University of Ibadan.
Ajayi said that the institution had witnessed a lot of development because of the financial support from the Federal and the State Governments as well as private individuals. (NAN)
