Governor Ademola Adeleke, has called on governments at all levels to focus on policies that encourage production, support enterprise and create jobs to mitigate the rising cost of living, which he said has continued to place pressure on households and businesses.
The Governor spoke on Tuesday at the 2nd Distinguished Public Lecture Series of the University of Ilesa, where he was represented by the Commissioner for Finance, Olusola Ogungbile, and said the current economic realities demand tangible actions beyond policy announcements.
He said, “Governments at all levels must therefore remain focused on policies that encourage production, support enterprise, create jobs and improve the welfare of the people.
“Security is not merely a matter of protecting lives and property, but it is also essential to economic growth and national stability.”
Adeleke stressed that public funds must be spent responsibly and borrowing must support meaningful development, adding that the challenges facing the country reinforce the need for transparent, accountable and responsive institutions.
In her lecture titled ‘Accounting for Economic Resilience: Addressing Inflation, Fiscal Sustainability, Insecurity and Governance Challenges in Nigeria’, ICAN President, Hajia Queensley Seghosime, said economic reforms will only succeed when citizens can recognise their results in their own lives.
Seghosime, who was represented by the First Deputy Vice President of ICAN, Dr Oye Akinsulire, noted that while there are signs of macroeconomic improvement, stabilisation itself cannot be mistaken for the destination as the true measure of reform is visible relief for households and businesses.
According to her, “Economic stability becomes meaningful when citizens experience greater purchasing power, businesses can plan with greater confidence, and households can begin to rebuild their standard of living.
“A country may have a budget running into millions of naira. Its revenues may increase. Its GDP may grow. But citizens will eventually ask: What has it produced? What has the expenditure achieved? What has the borrowing built?”
She added that Nigeria must weaken structural conditions that drive inflation by improving agricultural productivity, energy, transportation and storage, strengthening domestic production and maintaining credible monetary and fiscal policies, warning that failing to build resilience in favourable periods makes the economy more vulnerable when conditions change.
Earlier, Vice-Chancellor of the University, Prof Taiwo Asaolu, said the Distinguished Public Lecture Series was instituted to commemorate the institution’s Founders Day.
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