A professor of Comparative Political Economy at the University of Lagos, Adelaja Odukoya, has asserted that Nigeria’s economic policies promote investment without sufficiently strengthening domestic production.
Odukoya argued that the contradiction had weakened the country’s productive foundations, with policies encouraging investment and entrepreneurship while failing to create the technological capacity, productive employment and processing industries needed to drive sustainable development.
Odukoya spoke at the maiden edition of the Adeleke University Toyin Falola Annual Lecture, held on Thursday at the Performing Arts Theatre, Adeleke University, Ede.
The lecture had as its theme, “History, Power and Accumulation: Reimagining Africa in the Globally Disorderly Order.”
Odukoya identified several contradictions in the way the Nigerian state manages economic activity.
He said, “The state promotes investment without creating conditions for technological transfer. It encourages entrepreneurship without generating sufficient productive employment.
“It expands primary-product exports while leaving processing capacity undeveloped. It constructs infrastructure without establishing strong
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