A renowned economist and associate lecturer at Ulster University in Northern Ireland, Susan HayesCulleton, has identified collaboration with others and developing the entrepreneurial capability of Nigerians as strategies that will ensure Nigeria’s economic growth.
She said this at the 2nd Public Lecture of the African School of Economics (The Pan-African University of Excellence), Abuja on Thursday.
The title of her lecture was: “Economic Growth Models – The Irish Experience.”
The Guest Speaker noted that Nigeria’s economic growth has potential, especially when Nigeria learns from the experiences of others, improves her businesses to make them more sustainable, and collaborates to overcome the challenges of a changing environment while building international relationships.
HayesCulleton said: “The Irish people and the Irish business culture look outward and engage with their diaspora, and Nigeria has a huge capacity to do the same.
“They can also achieve this by enabling people to become proficient in Artificial Intelligence (AI) to enhance website development, e-commerce, and other business ventures.
“So there are plenty of opportunities for Nigeria to leverage its population and, of course, collaborate with Ireland for mutual benefit.”
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The positive economist and author encouraged Nigerians to embrace AI in developing sustainable energy sources by upskilling themselves in order to address emerging challenges.
According to HayesCulleton: “A significant challenge that we face as business leaders in relation to AI is twofold.
“First, energy consumption, we need to develop more sustainable energy sources to power AI operations.
“And second, we must ensure that people are adequately upskilled to manage and maximise the potential of AI.”
She said AI is a new development but we must build our capacity to train AI while also strategically and ethically integrating it into our businesses.
She also suggested the need to align technological advancements with workforce productivity for the benefit of the entire society.
Earlier in his address, tagged: “Between Need and Greed,” the Vice-Chancellor of the University, Prof. Mahfouz Adedimeji, noted that the economic challenges facing the world oscillate between the needs of the majority and the greed of the minority.
He said if greed can be eliminated among leaders, the needs of the people, which are basically food, cloth, and shelter, would be met.
Prof. Adedimeji called for a transition from the obsession with material wealth at the expense of moral values to character building while condemning the rising instances of kidnapping for ransom, killing for ritual purposes, fraud and other crimes among the younger generation.
To grow the Nigerian economy, he canvassed for learning from the Irish experience while advocating for the spirit of enquiry, collaboration and innovation that drives economic progress.
According to him: “For those who know, Ireland’s story is one of resilience, adaptation, and extraordinary transformation.
“Having emerged from economic challenges, the nation has redefined itself as a vibrant hub for innovation, technology, and investment.”
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