By Chris Nyamtu
A Professor of Finance and Capital Market at Nasarawa State University, Keffi, Professor Abdul Adamu, has advocated the adoption of a savings-driven financial model and a functional financial system to foster sustainable investment and accelerate Nigeria’s economic growth.
Professor Adamu made the call while delivering a lecture titled “Reimagining Nigeria’s Financial Influx: The Savings-First Investment Paradigm” in Keffi, Nasarawa State.
The lecture attracted participants from academia, traditional institutions, research organizations, and students from within and outside the state, who gathered to explore innovative approaches to strengthening Nigeria’s economic and financial base.
Speaking during the lecture, Professor Adamu stressed the need for a result-oriented savings culture and prudent financial management practices to provide a solid foundation for investment and sustainable economic development.
According to him, policymakers at all levels of government should formulate and implement policies that encourage domestic savings, particularly among the nation’s youthful population, to enhance capital formation and economic resilience.
The finance expert also emphasized the need to develop mechanisms for effectively managing external financial inflows in order to minimize economic disruptions arising from global crises, which often impact fuel prices and other critical sectors of the economy.
He noted that a strong savings framework would help mobilize domestic resources, reduce dependence on external financing, and create a solid platform for long-term investments.
Professor Adamu further called for policy reforms and stronger financial institutions to encourage savings and expand access to investment opportunities across the country.
He maintained that countries with strong savings cultures are better positioned to achieve economic stability, attract investments, and promote inclusive development.
The professor added that increased public investment in critical infrastructure, particularly road networks, digitally enabled savings technologies, and financial resilience initiatives, would significantly contribute to building a vibrant economy and driving national growth.
In her remarks, the Vice-Chancellor of Nasarawa State University, Keffi, Professor Sa’adatu Hassan Liman, represented by the Deputy Vice-Chancellor (Administration), Professor Halima Aliyu, called for collective efforts and innovative thinking to revitalize the nation’s economy and pave the way for sustained growth in the Gross Domestic Product (GDP).
Also speaking, the National President of the Capital Market Academics of Nigeria, Uche Uwaleke, urged academics to work closely with policymakers in developing sustainable innovations that would enable Nigeria to withstand shocks associated with global economic crises.
The event featured extensive discussions among academics, financial experts, policymakers, and students on practical strategies for strengthening Nigeria’s financial sector and improving the nation’s investment climate. (Radio Nigeria)