Economic resilience: Onuoha urges economic educators to create entrepreneurship skills

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Prof. Joseph Onuoha , President, International Association for Economics Educators, has called on universities and economic educators to encourage innovativenes and entrepreneurial  spirit among students to enhance economic resilience. 

Onuoha made the call  at the Seventh  Annual National  Conference of the  International Association of Economics Educators. 

The event was organised by the association in collaboration with Lagos State University (LASU) on Wednesday in Lagos.

It had the theme: “Economic Resilience: Navigating Global Challenges“.

He said that, at the moment, Nigeria needed to consistently develop critical thinking and problem-solving skills in universities to boost the economy.

“In a time marked by unparalleled disruption to the global economy, ranging from  financial crises and pandemics to climate change and technological upheaval, the notion of  economic resilience has become paramount.

“Economic resilience denotes an economy’s capacity to withstand shocks, adjust to disturbances, and recuperate rapidly while maintaining sustained long-term growth.


“Economies must not only endure crises but also prosper amidst hardship.


“The capacity to address uncertainty, whether by diversifying businesses, innovating or establishing robust social safety nets, distinguishes stagnation from growth,” Onuoha said.



He said that one of the visions of the association was to provide a forum for exchange of ideas on best practices and researches.


“Advocating on an international level,  standards for economics education curriculum, is very important.


“This association was registered about eight years ago due to the desire to have an umbrella to share issues concerning this profession and Nigeria’s economy,”Onuoha said .


In her remarks,  the Vice-Chancellor of LASU, Prof. Ibiyemi Olatunji-Bello, said that a resilient economy required diversification and investment in critical sectors such as agriculture, manufacturing, technology and infrastructure.


Olatunji-Bello  was represented by Prof. Olufunsho Omobitan, LASU’s Deputy Vice-Chancellor (Academics).


She said that Nigeria’s economic resilience was closely tied to global trends such as the aftershocks of the COVID-19 pandemic, international conflicts and fluctuating oil prices.


“As an oil-dependent country, Nigeria is vulnerable to external shocks which reinforces the need for strategic economic reforms.


“However, such reforms must be implemented with care, ensuring that they are equitable and transparent,” she said.


Prof. Gabriel Akindoju, Dean, Faculty of Education, LASU, said that the conference was timely and crucial.


He said that knowledge from conference would help to improve economic resilience and education for sustainable economic growth.

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