Economist calls for inclusivity of vulnerable to boost economic resilience

 

A Professor of Economics, Ibrahim Bakare, has emphasised the need for inclusivity and diversity of vulnerable especially at the grassroots to engender innovation and entrepreneurial spirit to boost economic resilience.

 

Bakare, a lecturer at the Department of Economics, Lagos State University,  made the call on Friday 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), in Lagos.

 

The lecture had the theme: “ A Collaborative Governance Approach To Navigating Global Challenges for  Economic Resilience”.

 

The professor said that inclusivity at the grassroots was important, adding that neglect could deepen poverty and hopelessness.

 

“Government at all levels must cultivate the culture of building resilience to address the anthropogenic aspect of global environmental problems through appropriate funding,” he said.

 

The lecturer added that  governments should  enforce regulations, invest in drainage systems, ensure proper waste management and develop realistic environmental plans that could contain climate change.

 

“Crafting resilience strategies to address shocks calls for a multifaceted approach at all levels where the vulnerable can have access to  the right infrastructure facilities,” he said.

He listed such infrastructure to include  electricity, adding that there was need for  online training and learning opportunities that could promote adaptability to technology changes.

 

He said that the importance of economic resilience could no longer be downplayed in the sustainability of human survival.

 

“As global complexities continue to rise, the workability of various stakeholders is often called to question to develop pragmatic solutions capable of shaping the trajectory of our progress.

 

“Crafting effective responses within the resilience landscape will support the globe against potential adversities and crave opportunities for innovation, collaboration and long-term prosperity.


“This approach calls for strategies that recognise the interconnected nature of local and global economies, and developing solutions using the collaborative efforts,” Bakare said.

 

Prof. Akinola Jimoh, Head of Department of Language, Arts and Social Science Education, LASU, said that the role of economic educators had never been more critical.

 

Jimoh said that economic educators faced a rapidly-changing world.

“This conference provides us with a unique opportunity to share insights, exchange ideas and collaborate on strategies that will enhance our collective understanding of economic resilience,” he said.