As YABATECH holds 36th convocation lecture

GOVERNOR Babajide Sanwo-Olu of Lagos state has emphasized the need to focus on Nigeria’s export capacity to boost its economy. The Governor stated this during the 36th Convocation Lecture of Yaba College of Technology (Yabatech), held in Lagos recently.

“A country that is the world’s biggest producer of cassava and yam should be earning hundreds of millions of dollars annually from exporting them,” he said.

Sanwo-Olu noted that Nigeria’s foreign exchange situation has negatively impacted the Naira’s stability, contributing to inflation. He stressed that the country needs to convert its potential into reality by processing and adding value to its natural resources before exporting them.

The governor also highlighted the importance of creating opportunities for youth engagement and addressing issues such as illiteracy, poverty, and disease. He mentioned the construction of the largest logistics park for agriculture in Sub-Saharan Africa as a testament to enabling a non-oil export economy for Nigeria.

Sanwo-Olu charged Yabatech to conduct more research, inventing technologies that can transform Nigeria’s natural resources into high-value processed goods. He also tasked the college to research the nation’s vast solar and wind energy potential, turning them into abundant electricity to power homes, factories, and ports.

Also, Vice President Kashim Shettima, in a message to the event, echoed the governor’s sentiments. “Nigeria requires technology and technical skills to be greater. Where the challenge lies now is how to add value to our products,” he said.

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Shettima who was represented by Mr. Tope Fasua, Special Adviser to the President on Economic Matters as the chairman of the occasion, harped on the need for Yabatech to be at the forefront of Nigeria’s technological revolution, driving innovation and entrepreneurship.