He also attributed the current economic woes in the country to heavy dependence on foreign goods.
Oba Ogunwusi said this in Malete, Moro local government area of Kwara State while delivering this year’s convocation lecture of the Kwara State University (KWASU).
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“70 percent of Nigerians are youth. They are vibrant, energetic and purposeful driven; they can think outside the box, yet they are frustrated by the system. The system has not encouraged them,” Oba Ogunwusi said.
He listed investment, production and consumption as some of the ingredients for a viable economy. He added that the way out of the economic recession is huge investment in locally made goods, saying that “if we change our orientation things will move forward properly for the country.
“There is no shortcut to success. We have propensity to consume but no propensity to produce. In the 60s Nigeria had so much money and did
not know what to do with the currency, then out propensity to produce started dropping. One of our fundamental problems in this country is that we don’t want to learn from our mistakes. We have forgotten how to link all economic ingredients for economic recovery in Nigeria.
“The current economic hardship in the country is a blessing in disguise. It is making us think inwardly, as state governments are now collaborating.
How well we are thinking out of the box that is food for thought for us all in Nigeria. Necessity is the mother of invention. The leeway to economic recovery in Nigeria lies with you and I. let us believe in our country and think positively,” he added.
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