 of Nigerian Communications Satellite (NIGCOMSAT) says lack of educated){kind=link}
Mrs Jane Egerton-Idehen, an Engineer and Managing Director (MD) of Nigerian Communications Satellite (NIGCOMSAT) says lack of educated workforce and enough capital are hindrances in achieving economic diversifications in the country.
Egerton-Idehen said this in Nsukka on Saturday while delivering the 20th Herbert Macaulay Memorial Lecture themed, “Harnessing Practical Engineering Solutions for Sustainable Economic Development” held at the Princess Alexandra Auditorium Hall, University of Nigeria Nsukka (UNN).
Egerton-Idehen who spoke on the topic “Championing Innovation: Digital Transformation and Economic Diversification in Nigeria said that more educated workforce and capital would help the country in achieving the desired economic diversifications.
“When people working in various sectors are all educated they would apply their knowledge in using any latest technology that will enhance diversification.
“Lack of educated workforce and enough capital are main problems in diversifying of economy in the the country,”she said.
She said that digital transformation was the process of using digital technologies like Robotics, Mobile Internet, Artificial Internet, to radically transform existing traditional and non-digital business processes and services.
The MD/CEO said the largest contributor to the nation’s GDP post-1970s was crude oil. With the oil boom in 1973-74, it was in the double digits at its highest; it was 40 per cent of GDP until post-2010 when sectors like Agriculture and ICT started to redistribute that balance.
” The oil sector still provides for 95% of Nigeria’s foreign exchange earnings and 80% of its budgetary revenues.
“Nigeria, as we know, is a nation brimming with talent and potential, stands at a crossroads. While blessed with abundant natural resources, particularly oil, our economy remained heavily reliant on a single sector for over five decades.
“The price per barrel of oil needed for Nigeria to balance our budgets is $139, current global conditions make this untenable. Oil prices have crashed due to the COVID-19 pandemic, among other reasons ,” she said.
The NIGCOMSAT boss said further that the vulnerability to fluctuating oil prices exposes Nigeria to external shocks and hinders sustainable growth.
She noted that the time had come to unlock Nigeria’s true potential, by embracing digital transformation and fostering a culture of innovation “this will enhance other sectors like Financial and Insurance Institutions among others.
“With our experience in ICT, we can reform, impact on various sectors that drive economic growth through digital transformation.
“This could be done by addressing the challenges and harnessing the opportunities, Nigeria can leverage digital transformation as a powerful tool for economic diversification, job creation, and shared prosperity,”she said
In a remark, Prof Charles Igwe, the Vice-chancellor of UNN said that Maculay was one of the foremost Nigerian nationalists and his opposition to many colonial policies paves the way for the Independence of Nigeria
“Together with Nnamdi Azikiwe he co-founded the National Council of Nigeria and the Cemeroons (NCNC) and became its president.
“He died in 1946 at the age of 82 years, and since then UNN has always recognised the great contributions of this great and patriotic Nigerian ” he said.
The VC noted that the Faculty of Engineering initiated the biennial lecture series in order to honour a man who has been described as the father of Nigerian Nationalism.
“As well as encourage others engineers, surveyors, architects and other professional to learn from his professional lifestyles and make every effort to leave good footprints on the sand of time.
Igwe challenged the faculty of Engineering in various universities to proffer immediate solutions to energy crisis in their institutions and its environs.
Speaking, Prof. Emenike Ejiogu, the Dean , Faculty of Engineering, UNN said that HMML remain the longest running academic lecture series in the faculty in honour of Macaulay.
“The Faculty of Engineering Board resolved on October 5, 1978, to establish a Memorial Lecture series to be known as HMML, to honour Macaulay; the father of Nigerian nationalism, who trained and practiced as an engineer, architect and surveyor.
“The first lecture was held in 1980 and has since continued every two years with many distinguished lecturers doing justice to the selected theme that the faculty board carefully selected according to the needs of time.
“This years (20th edition) HMML lecturer, Mrs. Egerton-Idehen is the first ever female to feature as a HMML lecturer, and she has chosen a very timely and appealing tittle for her lecture,” he said.
Ejiogu, who is also the Director, Africa Centre of Excellence for Sustainable Power and Energy Development (ACE-SPED) UNN, commended the VC and his management team for their support and encouragement in all the endeavours of the faculty.
He also commended the guest lecturer and other guests from far and near who attended and contributed to the success of the memorial lecture.
The occasion was chaired by Prof. Paul Eke, a professor of Digital Technology and System Engineering, Royal Academy of Engineering, University of Leeds, United Kingdom.
The highlights of the 20the HMML includes; Gown Meets Town, Technical Exhibition of practical projects of staff and students of the faculty of Engineering and interested private and public sector companies and organizations,
And Agbebi Alumni Class of ’85 handover of building built for the faculty as way of showing appreciation to the faculty that made them what they are