Nigeria Needs Strong Institutions To Survive- Says Babcock Varsity's Vice-Chancellor - EDU-BIZNEWS


Friday, February 16, 2024

Nigeria Needs Strong Institutions To Survive- Says Babcock Varsity's Vice-Chancellor

President/Vice Chancellor of Babcock University Ilishan-Remo, Ogun State Professor Ademola Tayo has hinged Nigeria’s economic recovery on the improvement of the quality of her institutions.

The Vice-Chancellor stated this while delivering his keynote address at the 9th annual international academic conference on accounting and finance organized by the Institute of Chartered Accountants of Nigeria (ICAN) in collaboration with Babcock University and African Accounting and Financial Association (AAFA)

Speaking on the theme, “Building a virile economy through industrial Revolution, Technology Advancements and Creative Capacity Development, Professor Tayo says Nigeria needs institutions that are very strong to withstand the storms of life and rejuvenate the economy.

According to him, only countries with strong institutions will experience stable economy.

“Today when we look at countries with stable economy you will find out that they have strong institutions and therefore Nigeria as a matter of urgency needs to improve its institutional quality and ICAN has a big role to play in that respect,” he said.

He called on all professionals to use their influence to rescue the nation.

“We will have a stable economy if our institutions are doing what is expected of them,” he added. 

He lauded ICAN for what it is doing to bridge academic with practice.“When each institution stands on its own we have a lot to lose. 

Any institution that is worth its salt should bring her professionals to impact the walls of the classroom, like ICAN has always done. 

We need to have a rethink about bringing professionals to rejig the academic world. 

He charged participants to come out with actionable strategies that would foster relationship between theory and practice.

Chairman, Research Committee of the conference, Mallam Haruna Yahaya, noted that the conference offered opportunity to foster intersection of theory and practice  by scholars, practitioners and thought leaders and thereby transform the industry and define the financial landscape. 

According to him, one of the major responsibilities of the research committee is to identify areas of research in accounting and foster connections between academic research projects and technical expertise that is crucial to the advancement of knowledge and innovation. 

Chairman, Conference Organising Committee of the 9th ACF, Professor Festus Adegbie said the theme of the conference was in line with one of the institute’s objectives to contribute to the growth and development of Nigerian economy.

He urged all delegates to seize the opportunity of the gathering for robust engagement, and to galvanise their intellectual energies towards charting new frontiers of understanding and innovation.

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