For the country to experience rapid economic growth, the means of production must be placed in the hands of the masses in order to make them self-reliant and self-supporting society that can completely protect itself from the external socio-economic forces.
This was the submission of the Keynote Speaker and Vice-Chancellor, Landmark University, Engr. Prof. Adeniyi Olayanju at the Third College of Engineering International Conference (COLENG 2021) held recently in the University.
According to the University Don, the world today has been buffeted by an array of economic banditry which have defied both domestic and international containment measures and have put many under so much difficulties, hence the need for Engineers to develop an all-inclusive technology and innovation that will benefit people and the planet for greater prosperity, better the quality of lives, as well as ensure equal access to technology for women and those in rural areas.
Prof. Olayanju, in his presentation titled “Engineering Innovation As A Catalyst For Rapid Economic Growth” pointed out that the much desired economic growth needed by the nation can only be possible “if technology of production is decentralized at very small scale level, almost at home/cottage level”, adding that “one of the most striking virtues of such decentralized cottage level technology is that it creates self-reliant and self-supporting society that can completely protect itself from external socio, economic forces”.
Emphasizing on the relevance of the theme to the economic growth of the nation, the erudite scholar disclosed that the uniqueness of the Conference lies in its capacity to engender a pedestal for all to see the hope of recovering the world from the stronghold effect of Covid-19 by aligning with the provisions of Engineering Innovation for Rapid Economic Growth.
He highlighted the emerging areas in Engineering to include ICT which involves precision farming, smart agriculture, renewable energy which deals with utilizing solar, water, wind and bio-fuels, biotechnology and biomedical involving specialized equipment like reactors and sensors, and amenity and ecological engineering.
Prof. Olayanju further noted that it is imperative to shift from mere invention to innovation to engender economic growth with the needed entrepreneurial skill needed as an equipping tool required to embark on invention-innovation shift.
The Landmark Vice-Chancellor proposed the creation of value-chains on engineering products from production to marketing, strengthening of town-gown synergistic relationship and promotion of globalisation of research products in order to encourage Engineers and support economic growth which in turn will help in moving from invention to innovation.
In his recommendations, Prof. Olayanju emphasized the importance of collaboration between Tertiary Institutions and Industries with the support of government, stating that such collaborations can facilitate the transfer of knowledge and stimulate the production of new knowledge and technology.
He further advised that emphasis should be placed on the need for research to be geared seriously towards developing machines and plants for secondary processing of crops and animal materials to final products, adding that researchers must be end-user-driven so that such products will no longer stay forever in the laboratories.
The University Don also advocated that fabrication and production of processing machines/equipment by government institutions such as NCAM, PRODA, FIIRO, FUNAAB and Landmark should be encouraged and promoted.
Corroborating Prof. Olayanju, Former Deputy Vice-Chancellor (Development), Prof. Waheed Adekojo in his Presentation titled, “Driving The Nigerian Economic Growth Through Engineering Innovations and Entrepreneurship” said that all hands should be on deck to preserve the environment for the oncoming generation, noting that a development plan must not only guarantee better today but also a much better tomorrow in specific and quantifiable terms.
