On Thursday, Sam Amadi, a governance expert trained at Harvard, stated that Nigerians require essential infrastructure like feeder roads, power, and education instead of flyovers built merely for political appearances. He delivered this message during the inaugural public lecture of the Faculty of Social and Management Sciences at Benson Idahosa University (BIU) in Benin City, Edo State. Amadi, who highlighted the importance of institutional capacity and infrastructure planning, expressed concern over the ongoing failure to tackle issues related to productivity, inequality, and multidimensional poverty, emphasizing that development involves more than just economic growth. The focus is on improving individual freedoms and abilities. Despite Nigeria’s continuous changes in leadership, the policies either go unimplemented or are poorly designed. “We require significant infrastructure such as feeder roads, electricity, and education instead of flyovers designed merely for political appearances,” he stated. According to DAILY POST, the lecture was titled “Rethinking Nigeria’s Economic Management Policies and the Way Forward.” During his main speech, Professor. Mustapha Sagagi, an experienced economist and non-Executive Director at the Central Bank of Nigeria (CBN), attributed Nigeria’s escalating debt and increasing poverty to systemic corruption, ineffective policy execution, and fiscal irresponsibility. He argued that even the best-designed macroeconomic policies often fail due to inadequate coordination among leading officials. Highlighting the detrimental impact of excessive borrowing and money printing in the past, Sagagi noted that over N30 trillion was printed within seven years with no corresponding increase in economic growth. He emphasized that Nigeria is not lacking in economists, engineers, or accountants. “What we are missing is a leadership and institutional framework that enables good ideas to be put into action,” he stated. Sagagi, who teaches at the Dangote Business School at Bayero University in Kano, did recognize recent positive developments such as a decrease in inflation, increasing reserves, and better forex clarity. He credited the Central Bank of Nigeria’s strict policies and the unified exchange rate system as factors contributing to stability. He emphasized that strategic reforms, accountability from citizens, and evidence-based leadership are essential to rejuvenate the struggling economy. “Without the monetary tightening, the naira might have plummeted to N3,000 per dollar.” The situation could have been disastrous. “There needs to be more effort to convert macroeconomic reforms into improved living conditions,” he commented. Economist Ayo Teriba emphasized the need for comprehensive privatization of the power, rail, and gas sectors, asserting that infrastructure should not solely be managed by the government. Teriba, who is the CEO of Economic Associates, expressed these views during the inaugural public lecture held by the Faculty of Social and Management Sciences at BIU in Benin City, Edo State. He recommended that the successful privatization model of the telecommunications sector be applied to the power, rail, and gas industries, calling for a focus on long-term planning and infrastructure investments. Furthermore, he suggested positioning the Ministry of Budget and National Planning at the forefront, pointing out that without a solid plan, fiscal and monetary policies lack direction. He also noted the inefficiencies present in agricultural distribution, mentioning that 60% of crops are lost after harvest due to inadequate transportation and storage facilities. He argued that agriculture itself is not failing, but rather the support systems that surround it are. John Okhuoya, the Vice-Chancellor of BIU, expressed that universities should take on the responsibility of fostering policy engagement and creating development solutions. He emphasized the need for Nigerians to shift from merely analyzing issues to taking actionable steps, stating that the university aims to be a center for conversations focused on finding solutions. In his speech, Prof.
