16/02/2025
Wake up Nigeria Innovation Not Oil Is the New Gold - 39th BUK Convocation Lecturer Warns
In a thought-provoking address at Bayero University’s 39th Convocation Lecture, the Executive Vice Chairman/Chief Executive Officer of Nigeria’s National Agency for Science and Engineering Infrastructure (NASENI), Khalil Suleiman Halilu on Friday, 14th February, 2025 delivered a strong message on the role of innovation and entrepreneurship in shaping Nigeria’s future.
Titled Innovation and Entrepreneurship: A Pathway to National Development, the lecture underscored the urgent need for Nigeria to harness its youthful population and embrace technology-driven entrepreneurship to drive economic growth and global competitiveness.
The speaker noted that with a projected population of 264.1 million by 2030, Nigeria faces a critical challenge: how to turn its demographic strength into an economic advantage. "The country must produce a generation of skilled leaders equipped to navigate the fourth industrial revolution," he said, calling for policies that support innovation and entrepreneurship.
Highlighting the link between economic prosperity and entrepreneurship, Mr Halilu cited global data showing that high-income nations boast significantly higher entrepreneurial density than developing economies. Despite efforts by the Nigerian government—such as the Economic Recovery and Growth Plan (ERGP) and various youth empowerment initiatives—he argued that the impact has been insufficient due to weak implementation, poor data tracking, and an unfavorable business environment.
He urged the government to recalibrate its policies, citing global success stories such as Estonia’s e-Residency program, which has attracted entrepreneurs worldwide and propelled the country’s business growth. Nigeria, he argued, must create a similar ecosystem to support start-ups and digital innovation.
On research and development, the Convocation Lecturer stressed that universities must align with global tr