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admin The Nigerian Economic Summit Group (NESG) has urged the private sector and universities to collaborate towards shaping academic curricula to promote investment in talents and innovation.
Chairman of NESG, Olaniyi Yusuf, made the call at the 2023/2024 annual lecture of the School of Postgraduate Studies, University of Lagos (UNILAG). Yusuf spoke on ‘Innovative Strategies: Harnessing the power of collaboration between postgraduate education and private sector for sustainable economic growth’.
According to him, joint research projects between the two sectors will promote sustainable economic growth and development.
He said: “Academic curricula should incorporate practical skills and knowledge through real world problems and case studies. Establishing this with industry stakeholders is essential to keep educational programmes aligned with industry trends and technological advancements.”
The NESG chairman also lamented that many universities were underfunded, thus limiting their ability to invest in research and development programmes to make them attractive for private sector collaboration.
“We need to create funding programmes to establish joint initiatives that will encourage co-investment from academia, alumni and industry. Tertiary education is essential for personal development and societal progress, especially in the context of Nigerian economy,” Yusuf added.
Chairman of Channels Media Group, Dr John Momoh, said the role of education cannot be underestimated in the country.
Momoh, who chaired the lecture, noted that the postgraduate school has helped to cultivate advanced knowledge and critical thinking to develop the country.
“Private sector is the engine of economic growth, which is why collaboration between universities and research institutions is very important.
“We need more innovations from the two sectors which must be driven by research. The future of our country depends on the decisions we make now,” he said.
The Vice Chancellor, Prof. Folasade Ogunsola, in her opening remarks said the theme of the lecture was timely and transformative. She highlighted the need to bridge the gap between knowledge and practice.
She added: “Indeed, the power of education lies not only in acquisition of knowledge, but its application to solve world problems. It also inspires change to create a better future.
“Tertiary education is changing rapidly; we have to be more intentional in meeting the developmental needs of the country. The research that comes out from postgraduate school should not only be about finding the problems, but also about finding solutions to these problems.”
Prof. Ogunsola stressed that research and innovation must have the potential to transform the world.
Dean of the Postgraduate School, Prof. Abraham Osinubi, said the theme of the lecture was a clarion call for action. He noted that there was need to forge a path for a future where knowledge would meet enterprise, and academic rigours would translate into economic resilience.
Prof. Osinubi also said that in an era defined by rapid technological advancements and shifting economic paradigms, the role of postgraduate education was more critical.
He noted: “It is the bedrock upon which we build the knowledge economy; a reservoir of innovation and creativity. For this reservoir to overflow and nourish our society, it must be channeled into the broader economy through deliberate and strategic collaboration with the private sector.”
