Thursday, May 9, 2024 was a beautiful day for celebration and eulogies as the Centre for Economic Policy Analysis and Research (CEPAR), University of Lagos (UNILAG) hosted a Public Lecture and Book Launch in honour of its pioneer Director, Professor Ndubisi Nwokoma ahead of his 70th birthday anniversary on Sunday, May 12, 2024.
The event which was well attended physically and virtually by the University Management, colleagues, staff, students, friends, economic policy makers, and well-wishers, was held at the Arthur Mbanefo Digital Resource Centre (AMDRC), UNILAG.
Public Lecture: Macroeconomic Policy and Effective Management of Public Finance for Sustainable Development
A good friend of the honouree, the Director-General, West African Institute for Financial and Economic Management (WAIFEM), Lagos, Dr. Baba Musa delivered the Public Lecture titled: Macroeconomic Policy and Effective Management of Public Finance for Sustainable Development.
In the course of delivering the lecture, Dr. Musa highlighted the macroeconomic environment in Nigeria, global risks and macroeconomic policy, fiscal policy, fiscal policy goals and performance in Nigeria, revenue and debt issues in Nigeria, public debt management, monetary policy, public financial management and sustainable development in Nigeria, as well as current challenges of macroeconomic policy formulation and implementation.
The WAIFEM Director-General also made several recommendations aimed at improving Nigeria’s public finance. These include, among others:
- Establishment of an independent bi-partisan Budget Office,
- Adherence to the law,
- Adoption of fiscal discipline,
- Re-design of Nigeria’s domestic revenue mobilization policy,
- Creation of macroeconomic policies to reflect long-term development goals, and
- Formulation of stabilisation policies with explicit exit clauses.
The Book: Macroeconomic Policy and Public Financial Management in Nigeria: Essays in Honour of Ndubisi Nwokoma
A Judge at the National Industrial Court of Nigeria, Mr. Odunayo Bamodu reviewed the two hundred and eighty-five (285) paged book with three editors.
He noted that the book which echoed the lifelong teaching of Professor Ndubuisi Nwokoma, centred on the promotion of good governance, social and economic development as well as efficient management of public resources in Nigeria.
Mr. Bamodu, who gave a brief synopsis of each of the seventeen (17) chapters of the book, averred that the expertise and experience of the authors in various subjects relating the central theme of the book were fully captured.
He noted that book did not have any major error except a few which the publishers could correct in subsequent reprints. His words, “There is no gainsaying that the book is relevant to contemporary Nigeria and will therefore be of immense benefit, and so recommended to the government, policy makers and analysts, researchers, students and general public”.
The Book: Macroeconomic Policy and Public Financial Management in Nigeria: Essays in Honour of Ndubisi Nwokoma has three (3) parts. Part 1 (chapters 1 and 2) covered the Introduction; Part 2 (chapters 3 – 7) treated Issues in Macroeconomic Policy and Public Financial Management while Part 3 (chapters 8 -17) covered Practice Issues, Regulations and Framework for Public Financial Management in Nigeria.
Outpour of Encomium
Representative of the Vice-Chancellor at the event, the Deputy Vice-Chancellor (Management Services), Professor Lucian Chukwu congratulated the brains behind the event, for appropriately celebrating “the highly cerebral intellectual.”
He eulogised the honouree, calling him “a straightforward person, and an inspiration to many – students and colleagues alike – whose research, teaching and mentorship has left an indelible mark in UNILAG”.
While cheering Professor Nwokoma for retiring at a good age, without blemish, the Deputy Vice-Chancellor (Management Services) expressed optimism that the University community would continue to drink from his cup of knowledge on macroeconomic policy.
In his remarks, the Chairman of the occasion and former Vice-Chancellor of University of Uyo, Prof. Akpan Ekpo conveyed his delight for the opportunity to celebrate Professor Nwokoma whom he described as an erudite scholar and friend. He expressed hopes that the government would take the recommendations shared in the lecture seriously.
In response to the immense show of love, Professor Nwokoma appreciated the crowd of well-wishers at the event. The elated Professor of Macroeconomic Policy declared his readiness to always be available to offer his knowledge, expertise and experience to CEPAR and the University.
The Honoree: Professor Ndubisi Nwokoma
Born on May 12, 1954 in Ukwa-East Local Government Area of Abia State, Professor Ndubisi Nwokoma obtained his his Bachelor’s degree, Master’s degree and Ph.D. in Economics from the University of Ibadan in 1980, 1982 and 1984 respectively.
He joined the services of the University of Lagos in 2001 as a Lecturer 1 in the Department of Economics, and rose through the ranks to become a Professor in October 2010. During the course of his outstanding career at the university, Professor Nwokoma held several positions including Head, Department of Economics (2012-2016) and Director, Centre for Economic Policy Analysis and Research, UNILAG, among others.
He was a one-time Special Assistant to the Director General of the Nigerian Stock Exchange and Chief of Financing, Industry and Investment at the United Nations Economic Commission for Africa, (UNECA), Addis Ababa. He is married and blessed with children.
Reporter: Ndidi J. Odinikaeze
Photographer: Islamiat Akanni
