Distinguished tax administrator, Dr Zacch Adedeji, challenges Nigeria to move beyond raw material exports toward innovation-driven prosperity. This was done during the Faculty of Administration’s inaugural Distinguished Personality Lecture that was held in Oduduwa Hall on Thursday, 5 February.
The landmark event, themed ‘From Potential to Prosperity: Export-Led Economy’, drew a distinguished gathering of academics, administrators, and students under the leadership of the faculty’s dean, Professor Rafiu Salawu. Vice Chancellor Professor Adebayo Simeon Bamire served as the chief host.
The ceremony, which opened with the recitation of both the Nigerian and Great Ife anthems, was coordinated by the university’s Public Relations Officer, Mr Abiodun Olanrewaju.
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In his welcome address, Professor Salawu emphasised the relevance of the lecture’s theme to Nigeria’s current economic trajectory. He lauded the guest speaker, Dr Zacch Adedeji, Executive Chairman of the Nigeria Revenue Service (NRS), describing him as ‘a professional who has made outstanding contributions to the private sector, public service, and national economic development.’
The dean highlighted Dr Adedeji’s credentials as a seasoned economist and public administrator whose work has significantly influenced fiscal policy and Nigeria’s development landscape. Representatives from the Nigeria Revenue Service celebrated OAU’s distinction as a citadel of learning that has produced exceptional individuals like Dr Adedeji, an alumnus of the university’s Department of Accounting, class of 2005.
In his keynote address, Dr Adedeji delivered an assessment of Nigeria’s economic structure, urging a fundamental rethinking of the nation’s growth strategy through the lens of economic complexity rather than merely increasing production of existing goods. ‘While Nigeria possesses a high-tech oil sector, its informal sector remains low in productivity, and the country lacks a vibrant, labour-absorbing industrial base that could serve as a bridge to higher economic complexity,’ Dr Adedeji stated.
He presented stark statistics revealing that Nigeria experienced stagnation in exports for three decades, from 1998 to 2023, adding only six new products to its export basket between 2008 and 2023. Citing findings from the Harvard Atlas, Adedeji noted that Nigeria’s current economic positioning limits its ability to diversify using existing knowledge and capabilities. He advocated for comparative study of both successful and struggling economies, including Vietnam, Bangladesh, Indonesia, South Africa, and Brazil.
The NRS chairman called for an urgent pivot away from Nigeria’s dependence on raw material exports, emphasising instead the need to focus on ideas, innovation, and the production of complex goods as pathways to sustainable economic growth and national prosperity. In an interactive gesture, Dr Adedeji challenged students in attendance to write summaries of his speech, promising to sponsor 20 participants.
The event drew high-level university leadership, including Professor Ganiyu Aderounmu, Deputy Vice Chancellor (Academics); Professor Emmanuel Akinfala, Deputy Vice Chancellor (Administration); Professor Akanni Akinyemi, Deputy Vice Chancellor (Research, Innovation & Development); Dr Olukemi Fadehan, University Librarian; and Mr Kamardeen Bakare, Registrar. Professor Olufemi Asaolu, Vice Chancellor of the University of Ilesha, was also in attendance.
Several alumni from the Department of Accounting’s class of 2005, Dr Adedeji’s graduating class, attended the ceremony. Cultural presentations enlivened the occasion, including a dance performance by OAU International School and an Ewi Kika (Yoruba poetry) presentation by Mosunmola from the Department of Management and Accounting.
In recognition of his achievements and contributions to national development, Dr Adedeji received multiple awards from various campus organisations, including the OAU Tax Club, Students’ Union, Federation of Oyo State Students Association, the Faculty of Administration, and departments of International Relations, Management and Accounting, Business Administration, and Local Government and Public Administration. Vice Chancellor Professor Bamire also presented an award on behalf of the university.
The historic event concluded with the recitation of the Great Ife and Nigerian national anthems, following a vote of thanks delivered by Dr Kazeem Lamidi, Vice Dean of the Faculty of Administration.