Egbewole commends Economics Dept on hosting international conference

By Bashir Dawodu

The Vice Chancellor of the University of Ilorin, Prof. Wahab Olasupo Egbewole, SAN, has commended the Department of Economics on successfully hosting the first UNILORIN International Conference on Economics and Development Policy, describing it as a fitting contribution to the University’s 50th anniversary celebration.

Prof. Egbewole gave the commendation last Tuesday (December 9, 2025) while declaring the conference open at the Faculty of Law Lecture Theatre. The conference was themed, “Policy Reforms and Sustainable Development.”

The Vice Chancellor praised the Department for aligning with his administration’s “1-10-500” vision, which is aimed at positioning the University as the number one institution in Nigeria, among the top 10 in Africa, and one of the top 500 globally.

He urged the Department to continue to contribute meaningfully to the growth and reputation of the University.

The Vice Chancellor noted that Nigeria has experienced several policy reforms and charged participants drawn from across the country to contribute ideas that would support national development.

He also congratulated the delegates for coming together to deliberate on economic policies that are capable of moving the nation forward and wished them a safe return to their various destinations.

In his keynote address,a Professor from the University of Navarra, Spain, Prof. Luis Alberiko Gil Alana, underscored the importance of fractional analysis as a powerful tool for understanding persistent economic challenges and shaping sustainable development policies.

Speaking on fractional analysis, the Spanish Professor explained that the method offers a better framework for modelling economic and financial time series with long memory and persistence, unlike traditional statistical approaches that focus on short-run dynamics.

He noted that variables such as inflation, unemployment, interest rates and economic growth are better understood through fractional techniques, which can help policymakers gain deeper insights into policy effectiveness and long-term economic behaviour.

Prof. Gil Alana urged scholars, particularly young researchers, to explore the field, adding that fractional analysis holds vast opportunities for impactful research and improved economic planning.

In his lead paper presentation, a Professor of Economics at North-West University, South Africa, and an alumnus of the University of Ilorin, Prof. Oladipo Olalekan David, spoke on the growing influence of technology in economic development. He explained that while some people are “technophones” and others “technophiles,” there is a need to strike a balance between both.

“Some people believe that Artificial Intelligence (AI) will destroy human intelligence, while others believe it will assist it. We must learn how to use it diplomatically without becoming redundant,” he said.

Prof. Oladipo added that technology has come to stay and urged Nigerians to adopt it judiciously to ensure the country is not left behind in global development.

Also speaking, the Head of the Department of Economics, Prof. A. A. Kilishi, emphasised that economic growth must be inclusive and sustainable to ensure wealth creation for future generations.

Prof. Kilishi said, “The theme of this conference cannot be achieved by magic; we must work together in shaping the future of our nation.”

He also appreciated the Vice Chancellor and the University management for their unwavering support toward the success of the event.

In his goodwill message, the Deputy Governor of Kwara State, Mr Kayode Alabi, who was represented by Prof. T. Popoola of the Department of Mathematics, University of Ilorin, congratulated the Vice Chancellor and the entire management team for hosting the conference.

He expressed optimism that the conference would yield sound policy recommendations for national development.

Similarly, the Director General of the Michael Imoudu National Institute for Labour Studies, Comrade Issa Aremu, stressed the need to promote economic and financial literacy in Nigeria to address the challenges confronting the nation.

Highlights of the conference included paper presentations and panel discussion sessions focused on addressing key economic challenges.

Dignitaries at the event included Principal Officers of the University, Deans, traditional rulers, members of the Kwara State House of Assembly, Local Government Councils  Chairmen, and students of the host Department.