Karu: Prof. Haruna Ayuba, Vice-Chancellor of Bingham University, has reaffirmed the Management’s commitment to advancing Nigeria’s development agenda by promoting critical thinking, intellectual curiosity, and scholarly excellence. Ayuba stated this at the 10th inaugural lecture delivered by Prof. Nuhu Gado on Tuesday at the university in Karu, Nasarawa State.
According to News Agency of Nigeria, the lecture, entitled ‘Strategic Management of Nigeria’s Industrial Sector and Economic Development: From Dumping, Slumping to Japa Syndrome’, examined the role of strategic management in repositioning the country’s industrial landscape. Ayuba emphasized the importance of fostering an environment where critical and innovative thinking thrive, which he believes is vital to transforming national challenges into opportunities. He noted that the topic addresses key aspects of Nigeria’s economic future, as the country faces significant challenges as well as opportunities.
Ayuba commended Gado for his scholarship and praised the Deputy Vice-Chancellor, Prof. Musa Dankyau, for coordinating the lecture series. He expressed concern about the mass exodus of talented youth seeking opportunities abroad, which he sees as a threat to Nigeria’s sustainable development agenda. He acknowledged Gado’s recognition of the urgency for strategic interventions, suggesting that the lecture would offer evidence-based strategies and governance frameworks to reverse adverse trends in the industrial sector.
The Vice-Chancellor announced that the inaugural lecture series had reached its first milestone, with the first 10 lectures to be compiled into a single volume for postgraduate students and researchers. He encouraged professors who have not yet presented their inaugural lectures to continue the tradition.
In his presentation, Gado, a professor of strategic management, highlighted that strategic management provides long-term direction for both organizations and nations through visioning, goal-setting, strategy formulation, implementation, and periodic evaluation. He explained that innovative strategies backed by valuable resources often lead to superior performance among companies.
Gado discussed Nigeria’s industrial trajectory, marked by patterns of import substitution and export promotion, and highlighted the significant impact of the business environment on industrialization. He cited studies indicating that electricity supply significantly affects the growth of Micro, Small, and Medium Enterprises, with firms spending over 20% of expenditure on power generation. Gado also pointed out that Nigeria’s entry into the World Trade Organization and removal of tariffs exposed local manufacturers to stiff competition amid weak infrastructure, institutions, and technology.
He mentioned challenges such as insecurity and policy inconsistencies that have forced many companies, including Dunlop, Michelin, Exxon, Shell, and TotalEnergies, to leave the country. Additionally, firms like PZ Cussons, GSK, Procter and Gamble, Sanofi, Equinor, Binance, Microsoft, and Bolt exited Nigeria in 2024 due to various operational bottlenecks.
Gado concluded by stressing that Nigeria has the resources to become a developed nation but requires strategic focus, technological adoption, transparency, accountability, and strong collaboration between the government, industry, and citizens. He emphasized that industrialization would drive national development and that strategic management remains a viable pathway to achieving it.