Economy Hardship: Ilaro Poly Rector Calls For Adequate Funding For Polytechnic Education To Reduce Unemployment

ABEOKUTA – The Rector of Federal Polytechnic Ilaro, Dr. Mikail Akinde has enjoined the federal government to redirect focus on polytechnic education to find a lasting solution to the devaluation of the naira and economic hardship in the country.

Akinde pointed out that “stag inflation” in the country which caused high rate of unemployment and high cost prices is bedeviling the country’s development.

He stated this while addressing journalists at the Polytechnic’s 21st convocation held at FPI TV studio.

Akinde posited that the Polytechnic has major role to play in solving the nation’s economic challenges.

He maintained that Polytechnic has a lot to offer in solving the free fall of naira value, revealing that the FPI Mechanical Engineering Department and Electrical& Electronics Department, manufactured machines which included a sand sieving machine, plantain cutting machine electric tricycle, electric fire alarm, and others.

Akinde noted that the polytechnic can become a manufacturing hub if manufacturers can partner for the mass production of the machines, adding that it would add value to local production and reduce the rate of unemployment.

He faulted Nigeria’s heavy reliance on importation of goods from China and other European countries with foreign currencies which dealt a major blow for the naira.

Akinde advocated that there should be a loan for the technically gifted person(s) in the country, to enable them to do more, citing China as a case study, while commending President Tinubu for his courageous steps in revamping all collapsed sectors in the country.

He said, “We need to rethink and refocus our educational sectors, theories are meaningless when not put into practice, in Polytechnic education, we put all theories of universities into practice that is why we are Polytechnics”.

“What we have now is called “stag inflation”, the combination of the high rate of unemployment, and high inflation is what we called “stag inflation” because if we have only inflation it means a high rise in price. If that is the case fine, but that is not the case, prices are rising, and the unemployment rate is also rising and that is the major problem. if you want to solve that, you need to first address the problem of unemployment”

“President, Bola Hamed Tinubu appears to be courageous to solve the problem of the country, a country in which all the real sectors have collapsed”.

“Many of you know how Oba Akran used to be in the past, it used to be an industrial hub if you walk through Oba Akran today is now Churchs and relies on centers”.

“Micheling and Dunlope tires, when they leave this country, how many tires do we export in a day for which vehicle? Where do we get those tires from? So, when we look at it, the starting point is that the President must find a way to fix the economy”.

“I’m very happy that he said one day that there is no crime in borrowing a loan, the only crime when you borrow a loan is how to use it”.

“When Britain was having this kind of problem, the problem of unemployment what they did is massive investment in the economy, the real sector of the economy in terms of rails, roads in terms of industry, so that those industries may not necessarily be leaving. If they stay they will employ our youths, and you see the problem of unemployment will go down”.