Uche Uwaleke, the president of the Association of Capital Market Academics of Nigeria says  without a deliberate and coordinated strategy that strengthens  institutions, fosters  innovation and accelerates digital inclusion, Nigeria’s development goals will  remain elusive.

The professor also called  for reforms to improve  ease of doing business and  promoting inclusive growth in Nigeria’s economy.

Mr Uwaleke, a professor of Capital Market at Nasarawa State University, Keffi,  made the call at the maiden International Management Science Conference of the Faculty of Management Sciences, University of Abuja.

The conference is aimed at exploring ways to drive economic growth through innovation and good governance.

Presenting a lead paper, Mr Uwaleke emphasised the need to expand investment in digital infrastructure and institutionalise transparency and accountability in governance to achieve inclusive economic growth.

He noted that leveraging innovation, governance, and digital transformation remained  key to achieving inclusive and sustainable growth.

According to him, Nigeria’s pursuit of inclusive economic growth and sustainable development cannot succeed
without a deliberate integration of innovation, strategic governance and digital transformation.

He underscored the importance of a holistic and coordinated strategy toward inclusive growth. He said the real sectors such as agriculture and manufacturing should be made to thrive via significant investments for inclusive growth of the economy and good of Nigerians. He also called for strengthening of institutions, enhanced transparency, accountability and regulatory consistency.

According to him, institutional reforms should focus on improving contract enforcement, protecting of intellectual property rights and reduction in corruption. He also called for acceleration of digital infrastructure investments and expansion of broadband penetration to underserved rural areas through public-private partnerships, subsidise data access for disadvantaged groups.

He advocated the promotion of renewable energy solutions to address power constraints in the country.

Mr Uwaleke also advocated for increased funding for research and development , incentivise university industry collaboration and provision of targeted support for affordable resource efficient innovations that directly tackled Nigeria’s local socio-economic challenges.

He also recommended the promotion of inclusive digital literacy and the launch of a nationwide digital literacy programme,  particularly targeting women, youth, and rural populations.

This, he said,  would ensure equitable participation in the digital economy, leverage regional and global partnerships, maximise benefits from AfCFTA and global climate financing to diversify Nigeria’s economy.

According to him, it will also enhance competitiveness, and position Nigeria as a hub for innovation driven growth.

“Indeed, Nigeria’s path toward inclusive and sustainable development requires strong institutions and an unwavering commitment to innovation and digital transformation. If pursued strategically, these pillars can unlock Nigeria’s full potential, transforming its demographic dividend and abundant resources into shared prosperity for all,” he said.

(NAN)