The Chief Executive Officer of the Nigerian Economic Summit Group (NESG), Dr. Oluwatayo Aduloju, has highlighted the transformative role of universities in driving national development, fostering wealth creation, and enhancing global competitiveness. Speaking at the 55th convocation lecture of the University of Lagos (UNILAG), Dr. Aduloju delivered a thought-provoking lecture titled “Universities as Hubs for Development and Wealth Creation,” emphasizing the potential of universities to inspire innovation, shape societal progress, and bridge critical gaps between academia, industry, and government.
Drawing comparisons with Asian nations that have risen as economic powerhouses, Dr. Aduloju stressed the urgent need for Nigeria to establish dedicated education hubs. He argued that such hubs could serve as pivotal platforms for aligning academic goals with industrial and societal needs, ultimately propelling the country toward sustainable development. “Nigeria must create multi-disciplinary, frontier-targeted education hubs to remain globally competitive. Selected public and private universities should be restructured to serve as models for progress,” he said.
Dr. Aduloju also underscored the importance of rebuilding the nation’s intellectual foundation to enhance productivity and competitiveness. He proposed the creation of education hubs capable of producing skilled leaders and workforce to position Nigeria as a leading industrial reformer in Africa. According to him, these hubs would require robust political and financial support to thrive, addressing deficits in Nigeria’s social, financial, and institutional frameworks.
In her opening remarks, UNILAG Vice-Chancellor, Prof. Folasade Ogunsola, reaffirmed the institution’s commitment to driving innovation, fostering academic excellence, and contributing to both national and global development. The lecture was chaired by former Lagos State Governor Babatunde Fashola, who described the topic as timely and essential for advancing Nigeria’s development frontiers. The event served as a call to action for policymakers and academic leaders to harness the transformative potential of universities in addressing the nation’s pressing challenges.