By Ikenna Nwokedi
The Faculty of Social Sciences, Nnamdi Azikiwe University, Awka on Wednesday, 21st August 2024 held a second successful colloquium.
The Colloquium held at the conference room of the Faculty of Social Sciences was titled, “Addressing the Economic Crises in Nigeria and the Imperative for Livelihood Adjustment.”
Declaring the event open, Chairman of the occasion and CEO De Geogold Hotels and Suites Awka, Chief Ndubuisi Nwobu stated that the essence of the colloquium is for social scientists to converge and proffer solutions to societal problems owing to the present economic situation of the country.
Chief Nwobu opined that the ravaging economic challenges is posing a threat to the society as families are affected financially and otherwise which has necessitated the need for a discuss of this nature towards finding ways of adjusting to life with the available financial resources to mitigate the challenges.
The Awka-born Chieftain also disclosed that a communique will be generated from the academic banquet which will serve as a solution from the university community to the town in addressing the societal problems of both the town and gown.
In his opening remarks, UNIZIK Acting Vice-Chancellor, Professor Carol Arinze-Umobi eulogized the Faculty of Social Sciences for sustaining the tempo of academic discuss offered by the colloquium.
The Acting VC who was represented by the Dean of Student Affairs’ Unit, Professor Makodi Biereenu-Nnabugwu affirmed that the title is apt coming at a time individuals and families have to think out of the box on ways to navigate the challenges of the current economic situation which has led to lean resources in the pockets of Nigerians thereby making survival much more difficult.
In his address, the Dean, Faculty of Social Sciences, Prof. Frank-Collins Okafor revealed that the Faculty Colloquium was initiated by his administration to provide the necessary intellectual platform for the faculty scholars to interrogate raging societal issues with a view to coming up with good suggestions on the way forward.
The Dean affirmed that the topic is top notch, topical and timely, coming at a time Nigerians are facing the most difficult experience in their lives and a time when the truth of the nation’s economic realities must be told for practical adjustment ideas and solutions to be proferred.
The Professor of Political Science averred that the faculty is committed to continued expansion of the frontiers of the intellectual harvest through organized publicity, communique and publication. The scholar thanked the Chairman of the occasion, Professors, HODs, the faculty colloquium committee led by Prof. Harry Obi-Nwosu for a job well done.
On his part, the Chairman of the Faculty Colloquium Committee, Prof. Harry Obi-Nwosu stated that the academic intellectual harvest was upgraded from Faculty Lecture Series to Colloquium to enhance the programme and further promote the fusion of town and gown as the University community is meant to proffer solutions to societal problems. The scholar commended the Dean for his initiative and doggedness in enhancing academic ritual via a discuss provided by the Faculty Colloquium.
Delivering the colloquium lecture, Professor Uche Collins Nwogwugwu stated that money and foreign exchange play a central role in current economic crises of Nigeria. Prof. Nwogwugwu highlighted some remote factors causing Nigeria’s economic crisis such as heavy dependence on oil, lack of diversification, crypto transactions, tax concession, foreign exchange scarcity, volatility and transparency.
The Professor of Energy Economics also disclosed that policies aimed at nipping economic crises in the bud are not working as a result of factors such as structural constraints and external shocks. The scholar suggested that Nigerian economic crises can be tackled through addressing structural constraints, improving governance and institutional capacity, promoting inclusive growth and development, fostering conducive business environment, implementing policy measures coherently and transparently.
The University Don concluded by stating that proactive steps can be taken to mitigate the impact of economic crises by the citizens by seeking professional advice when needed, support for one another, reaching out and showing love through difficult times, avoiding anger and all its occasion, engaging in exercise and agriculture as well as thinking and staying positive.
The colloquium also featured discussions on the paper title led by the immediate past Head of the Department of Mass Communication and current Deputy Director II of UNIZIK 94.1 FM Radio, Professor Cornelius Ukwueze with comments and responses from other scholars such as the immediate past Resident Electoral Commissioner of Imo State, Professor Emeka Ezeonu; former Rector of Federal Polytechnic Oko, Professor Godwin Onu and Professor Jaja Nwanegbo.
Other highlights of the occasion was decoration of the Guest Lecturer, Prof. Uche Nwogwugwu with a medal of honour, question and answer sessions from teaching staff of the Faculty and unveiling of the points which made up the communique performed by Dr. Alex Agbaenyi.
