Economy
A political economist, Prof. Sam Egwu, on Tuesday advocated for the adoption of social democratic system for Nigeria to scale through the present economic challenges.
Egwu, who is the Benue Resident Electoral Commissioner of the Independent National Electoral Commission (INEC), gave the advice at the First National Conference organised by the Faculty of Social Sciences, Federal University Lokoja (FUL), Felele, Lokoja.
Speaking on the theme: “Governance and Socio Economic Challenges: Implications on Citizens Welfare in Nigeria”, he said that the Nigeria problem started when it discarded the state control of corporations and large businesses.
According to him, it is the reason Nigerian democracy is about “elite settlement and not for the poor” only aim at satisfying the appetite of the ruling class.
Egwu argued that the liberal democracy being practiced by Nigeria could not serve the well-being of the people.
“Liberal democracy has taken the state away from the people and development, and replaced it with market forces, such that the government can’t be directly involved in the economic development of the people
“In 1970s, there was National Development plan of which the government was involved in running of corporations and large businesses.
“But these were to be substituted with National Rolling plans which systematically took away the people and replace it with market forces to the detriment of citizens,” he said.
Egwu called for a rethink by government and the elites, and chart a new course for Nigeria’s growth and development that would better the well-being of citizens.
Earlier in his welcome address, the Vice-Chancellor of FUL, Prof. Olayemi Akinwumi, said that the conference was aimed at finding solutions to the country’s “life threatening challenges.”
Akinwumi, represented by the Deputy Vice-Chancellor, Administration, Prof. Emmanuel Bala, urged the participants to brainstorm on ways the nation could come out of the prevailing economic crisis.
Also, Prof. Salisu Musa, Dean, Faculty of Social Sciences, said, “as social scientists, we are imbued with theoretical tools, analytical framework and empirical insights necessary to examine governance structures and Socio-economic policies critically for better usage.”
Musa expressed the belief that the outcome of the conference would help policy makers to understand realities on ground and design interventions that would benefit the citizens. (NAN)
Photo Caption: Prof. Sam Egwu
11th September, 2024.
C.E.
Tags: Federal University Lokoja Prof. Emmanuel Bala Prof. Olayemi Akinwumi Prof. Salisu Musa Prof. Sam Egwu
