Chief Executive Officer of the Nigerian Economic Summit Group (NESG), Dr. Oluwatayo David Aduloju has outlined the critical role of universities in driving national progress, fostering wealth creation, and enhancing global competitiveness.
This position formed part of his recommendations at the 2024 Convocation Lecture of the University of Lagos (UNILAG), held on Monday, January 13, 2025, at the J. F. Ade Ajayi (Main) Auditorium, UNILAG.
Delivering the lecture titled: Universities as Hubs for Development and Wealth Creation, under the Chairmanship of the immediate past Minister of Power, Mr. Babatunde Raji Fashola, CON, SAN , the guest lecturer emphasized the transformative potential of universities; underscoring their role in fostering scholarship, inspiring reflection, and driving societal progress.
Before delving into the core of his lecture, Dr. Aduloju reflected on the essence of the “spirit of convocation,” describing it as embodying relevance, context, and catalytic energy. He asserted that these qualities position universities as evaluative and prescriptive institutions, uniquely equipped to envision and shape future achievements. This spirit, he argued, often takes on an almost prophetic role in charting the path for intellectual and societal advancement.
Drawing comparisons to the University of Lagos’ evolution from its 50th convocation to its recent 54th edition, the speaker highlighted the institution’s strategic commitment to shaping ideas, ideals, and ideologies that drive transformation. He referenced the address delivered at the 54th convocation by globally renowned academic Professor Toyin Falola of the University of Texas at Austin, who argued that African leadership has consistently contributed to global human development and industrial revolutions, despite historical underrepresentation in global narratives.
Starting his lecture, he explored key themes such as the transformation of national institutions into modern states, wealth creation, and development trajectories. He examined the role of universities within this framework, referencing assessments by the Nigerian Economic Summit Group (NESG) and highlighting how universities serve as hubs at the intersection of development, business, and government.
Dr. Aduloju, whose extensive professional expertise spans strategy, public policy, and economic competitiveness, offered a comparative analysis of Nigeria and Indonesia’s histories of development and wealth creation. He outlined the pathways through which universities can catalyze transformations, offering actionable insights for the future.
Earlier in her welcome address, the Vice-Chancellor of the University, Professor Folasade T. Ogunsola, OON, FAS, reiterated the University’s commitment to driving innovation, fostering academic excellence and contributing meaningfully to national and global development.
Her words, “In an era of rapid changes in knowledge, innovation and complex challenges, it is imperative to continuously evaluate how well our University is doing in fulfilling its societal contract with society to provide fit-for-purpose manpower, generate new knowledge to address societal problems and provide technology to shape the future”.
The University helmswoman also paid tribute to Dr. Aduloju, describing him as a fully rounded professional whose expertise and contributions span critical reform initiatives across diverse socio-economic sectors including aviation, agriculture, finance, and fiscal development. She commended his wealth of experience and ability to integrate knowledge from multiple disciplines to address complex issues, making him an exemplary choice as the convocation lecturer.
On his part, Chairman of the Lecture, Mr. Raji Fashola, CON, SAN described the topic as both timely and significant; emphasizing the critical role of universities in reshaping narratives and advancing development frontiers. He noted that “achieving these goals require a strategic alignment between academia, industry, and government, fostering an education system that is purposefully tailored to drive progress and innovation”.
The former Lagos State Governor also paid glowing tribute to the dedication of staff and stakeholders of the University, lauding their contributions to its enduring legacy of excellence. Reflecting on his time as Governor of Lagos State, he shared fond memories of his collaboration with the university, highlighting its pivotal role in supporting developmental initiatives during his tenure. His remarks underscored the deep connection between the institution and the transformative leadership experienced during his tenure as governor.
In his remarks, the Pro-Chancellor and Chairman, UNILAG Governing Council, Chief Wole Olanipekun, CFR, SAN, used the occasion to congratulate the entire University on the 55th Convocation Ceremonies just as he commended the Vice-Chancellor, Professor Folasade Ogunsola’s vision to heighten the University’s reputation; finances, infrastructure, reputation, and manpower.
The Pro-Chancellor noted that the convocation lecture would catalyze stimulating critical thinking and transform the university system to better fulfill its frontier mandates, driving significant advancements that will positively shape Nigeria’s future.
The day’s events commenced with the commissioning of several landmark projects by the Pro-Chancellor and Chairman of the University Governing Council, Chief Wole Olanipekun, CFR, SAN, alongside members of the University management team.
The commissioned projects included:
- The African Centre of Excellence for Drug Research, Herbal Medicine Development, and Regulatory Science (ACEDHARS Building): A World Bank-supported Centre of Excellence focused on developing indigenous plants for medical applications.
- The new 120-bed extension of Moremi Hall is designed to provide additional student housing.
- The ultra-modern Learning Commons: An extension of the University Main Library dedicated to student-centered services, fostering creative engagement, facilitating research collaboration, and supporting knowledge co-creation.
For more details, visit: https://unilag.edu.ng/?p=46512
Report: Bayo Salau
Photographs: Ayo Oloyede
