Don advocates investment savings culture to boost economy

Professor Abdul Adamu, a finance and capital markets expert at Nasarawa State University, Keffi, is advocating for a fundamental shift in Nigeria's economic strategy, emphasizing the critical role of savings for investment.

During his inaugural lecture, titled “Reimagining Nigeria’s Finance In Flux: The Savings-First Investment Paradigm,” Adamu argued that prioritizing domestic savings is key to fostering rapid economic growth and attracting foreign investors. He noted that while foreign investment can boost manufacturing, a strong domestic economy is what ultimately draws international capital, as investors seek the highest returns.

"So in this lecture, we have been able to demystify the fact that we should be calling for foreign investment, by coming up with a reimagined solution, that we should try to save and invest in our economy first. And when our economy grows, foreign investors will come," Adamu stated. He urged the nation to move beyond opportunistic financial practices towards a model built on structure, purpose, and the deliberate mobilization of its people's saving potential.

Furthermore, Adamu highlighted the necessity of protecting citizens' savings, particularly in the digital age, to build confidence in the financial system. He also pointed to inadequate infrastructure as a significant impediment, calling for deliberate government action to improve it. This, he believes, will unlock the innovative potential of Small and Medium Enterprises (SMEs) and contribute to overall economic development.

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So in this lecture, we have been able to demystify the fact that we should be calling for foreign investment, by coming up with a reimagined solution, that we should try to save and invest in our economy first. And when our economy grows, foreign investors will come.