Prof. Uche Uwaleke, President of the Association of Capital Market Academics of Nigeria (ACMAN), has emphasised that Nigeria’s development aspirations will remain unattainable unless deliberate efforts are made to strengthen institutions, promote innovation, and deepen digital inclusion.
The capital market scholar, who also lectures at Nasarawa State University, Keffi, made this submission while delivering a lead paper at the maiden International Management Science Conference of the Faculty of Management Sciences, University of Abuja.
With the theme “Driving Inclusive Economic Growth and Sustainable Development Through Innovation, Governance, and Digital Transformation in Nigeria,” the conference explored ways to accelerate growth through effective governance and innovative practices.
Uwaleke noted that meaningful development can only be achieved if Nigeria expands investments in digital infrastructure, institutionalises transparency, and enhances accountability in governance.
According to him, Nigeria’s push for inclusive growth and sustainable development requires a blend of innovation, strategic governance, and digital transformation.
“Innovation generates new opportunities, digital technologies amplify and scale these opportunities and governance ensures that they are equitably distributed and sustainably managed,” he said.
He called for a comprehensive strategy that strengthens critical sectors of the economy, such as agriculture and manufacturing, through significant investments, stressing that such moves would not only boost productivity but also improve the welfare of Nigerians.
The professor also underscored the need for institutional reforms that enhance transparency, accountability, contract enforcement, and intellectual property rights while curbing corruption.
He further recommended scaling up broadband penetration, particularly in underserved rural areas, through public-private partnerships, as well as subsidising internet access for disadvantaged groups.
On energy, Uwaleke advocated for greater adoption of renewable energy solutions to ease the country’s persistent power challenges. He also pushed for increased funding in research and development, stronger university–industry collaboration, and targeted support for cost-effective innovations that address Nigeria’s unique socio-economic issues.
He emphasised the importance of a nationwide digital literacy programme, with particular focus on women, youths, and rural communities, to ensure fair participation in the digital economy.
According to him, such measures would not only broaden opportunities but also position Nigeria to take full advantage of the African Continental Free Trade Area (AfCFTA) and global climate financing opportunities, thereby diversifying the economy.
“Indeed, Nigeria’s path toward inclusive and sustainable development requires strong institutions and an unwavering commitment to innovation and digital transformation. If pursued strategically, these pillars can unlock Nigeria’s full potential, transforming its demographic dividend and abundant resources into shared prosperity for all,” he added.
