Lagos, Nigeria – Professor Sunday Adebisi, the Dr. Mike Adenuga Jr. Professorial Chair in Entrepreneurial Studies at the University of Lagos, has unveiled a transformative economic framework, the New Enterprise Nigeria (NEN) model, as a potential solution to Nigeria’s economic challenges.
Delivering the keynote address at the second Mike Adenuga Jr. Entrepreneurial Studies Annual Lecture, themed “Navigating the Present Stormy Nigerian Economy: The New Enterprise Nigeria as the Anchorage”, Adebisi described the NEN model as the roadmap to long-term economic growth and revitalization.
The lecture, held at the University of Lagos, highlighted the pressing need for transparency, accountability, and targeted economic reforms. Adebisi outlined the core pillars of the NEN model, which include:
- Implementation of purpose-driven infrastructural projects.
- Integration of ministries’ activities in line with national priorities.
- A 25-year food security plan.
- Cessation of borrowing and advocacy for debt rescheduling.
- Digitalization of Bureau-de-Change operations.
He emphasized the importance of job creation, fostering startups, managing subsidy removal, addressing inflation, and investing in innovative solutions. Other highlights included strategies for youth re-orientation, wealth creation opportunities, and establishing a synergy between academia and the economy through the "Acada-solution consortium."
In her address, the Vice-Chancellor of the University of Lagos, Professor Folasade Ogunsola, lauded the initiative and stressed the importance of investing in education, entrepreneurship, and research for national development. She commended Dr. Mike Adenuga for his commitment to advancing entrepreneurial knowledge and skills through his partnership with the institution.
Professor Taiwo Osipitan, Chairman of the Board of Trustees for the Adenuga Professorial Chair, noted that the annual lecture series was established to address Nigeria's economic challenges while promoting entrepreneurship and creating employment opportunities.
The Mike Adenuga Professorial Chair in Entrepreneurial Studies was inaugurated in 2008 to foster research, knowledge dissemination, and practical solutions for enterprise creation in Nigeria. This year’s lecture reiterated the need for innovative approaches to economic recovery, with the NEN model serving as a blueprint for sustainable development.
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