Osun State Governor, Ademola Adeleke, has urged both the Federal Government and state authorities to prioritize policies aimed at enhancing production, supporting businesses, and creating jobs. This call comes in response to the escalating cost of living affecting many Nigerians. Adeleke made these remarks on Tuesday in Ilesa during the second Distinguished Public Lecture Series hosted by the University of Ilesa, which featured a lecture from Queensley Seghosime, President of the Institute of Chartered Accountants of Nigeria.

Represented by the Commissioner for Finance, Olusola Ogungbile, Adeleke emphasized the importance of responsible public spending. He advocated for borrowing only when it directly supports development and improves the welfare of citizens. The governor highlighted that security plays a critical role in economic recovery, stating that insecurity in various sectors, including agriculture and trade, could hinder production and deter investment.

"Governments at all levels must therefore remain focused on policies that encourage production, support enterprise, create jobs and improve the welfare of the people," Adeleke stated. He further noted that security is not just about protecting lives and property but is also vital for fostering economic growth and national stability.

In her lecture titled ‘Accounting for Economic Resilience: Addressing Inflation, Fiscal Sustainability, Insecurity and Governance Challenges in Nigeria,’ Seghosime pointed out that successful economic reforms must translate into tangible benefits for Nigerians in their daily lives. She stressed the need for reforms to be felt at home and in businesses, warning against viewing economic stabilization as an end goal without considering its impact on living standards.

Seghosime articulated that economic stability should be measured by improved purchasing power for citizens, enhanced business confidence, and an overall rebuilding of living standards. She called for addressing structural issues driving inflation, such as agricultural productivity, energy supply, transportation, and storage, while also maintaining credible monetary and fiscal policies.

The Vice-Chancellor of the University of Ilesa, Prof. Taiwo Asaolu, noted that the lecture series was initiated to commemorate the institution’s Founders Day. This event aligns with ongoing discussions about Nigeria's economic challenges and the need for innovative solutions. Recently, Dr. Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service, expressed a commitment to partner with Nigerian tertiary institutions to transform them into innovation incubators capable of addressing real-world problems. He highlighted measures taken by the tax agency to modernize and expand the tax base, aiming to build public trust and improve fiscal resilience in the face of dwindling revenue.

The discussions at the University of Ilesa reflect a growing recognition of the interconnectedness of security, governance, and economic stability in Nigeria, as stakeholders seek collaborative approaches to address these pressing challenges.