From Felix Ikem, Nsukka
The University of Nigeria Alumni Association (UNAA) has harped on the need for improved financing of Social Development Programmes (SDPs) to help reduce poverty and improve the quality of life for Nigerians.
The call was contained in a communique issued at the end of UNAA’s 108th National Executive Council (NEC), and Delegate Meeting held recently at Ojaja Resort and Industrial Hub, Ile-Ife, Osun State.
The communique which was signed by Alhaji Kunle Jimoh and Mr Chimaobi Nwabuko, Chairman and secretary of the communique committee respectively, and was made available to newsmen in Nsukka on Monday noted that the theme of the meeting was: “Nigeria’s Natural Resources and their Impacts On Her National Economy.”
According to the communique, Prof. Michael Ologunde, who delivered a lecture on the theme of the meeting
advocated that the substantial revenue that the country generates from the extraction, export, and sale of these natural resources could be used to finance social development programmes such as education, healthcare, and social services to help reduce poverty and improve the quality of life for Nigerians.
Ologunde, who is the former vice chancellor of the Ladoke Akintola University of Technology, listed oil and gas, solid minerals, tourism, forestry, tourism, human capital, and agriculture as major natural resources abound in Nigeria, describing them as catalysts for national economic development if properly managed.
He noted that Nigeria is the 8th largest crude oil producer and the 6th largest crude oil exporter in the world, adding that, with about 37.2 billion barrels of reserves and 2.13% of global production, Nigeria has the 2nd largest crude oil reserves in Africa after Libya.
He lampooned the inability of successive governments to tap the resources to the fullest for the proper development of Nigeria’s economy.
He avered that the economy of Nigeria is heavily dependent on the crude oil and gas sector, which accounts for 95% of export revenue and 76% of government revenue, yet, most Nigerians live below the poverty line despite the country’s
abundance of potential to build a prosperous economy.
He, however, called for improved finance for infrastructure development such as roads, bridges, airports, and other essential infrastructure that is critical for the country’s economic growth, as well as adequate finance for the importation of essential goods and services, promote international trade, and support the country’s economic growth.
The communique noted further that the UNAA National Executive Council resolved that the “Government should refocus attention on the exploration of other natural resources such as palm oil, groundnut, cocoa, aluminium, californium, and steel as critical perspectives on national development.
“Efforts should be made to recover the huge sums not remitted to the government. This will go a long way to ameliorate the poverty conditions of the masses through early payment
of emoluments.
“Nigeria is known as an agricultural society because of climate conditions. So, agricultural resources should be developed to the extent of encouraging MSMEs.
“Nigeria’s forestry resources do not belong to individuals. For national development, there is an urgent need to protect, restore, promote, and sustainably manage its forests, reduce deforestation, and stop unnecessary environmental degradation and biodiversity loss.
“There is a crucial need for good public management in order to conserve public finances Nigeria needs for national development and economic growth and to promote poverty alleviation strategies and the well-being of all.
“NEC, after due consideration, condemned in its entirety and appealed against the unhealthy interference of the University of Nigeria management in the affairs and administration of the UNAA.
“UNAA calls on the Federal Government of Nigeria for good public management and ensure that the huge sums of money accruing from the country’s abundant natural resources are remitted by
individuals and corporate bodies to the national purse for national development,” the communique said.
The communique also noted that Ooni of Ife, HRM, Oba Adeyeye Ogunwusi was awarded the ‘Imperial Global Grand Patron Award’ of the association, while the national president of the UNAA, Dr Linda Agua-Onyekwelu said the to Ooni, who is also the Chancellor of the University of Nigeria, Nsukka, and other distinguished personalities was a way to institutionalise the highest standards in all fields of human endeavour.