Binghamton University Reaffirms Commitment to Development

Binghamton University Vice-Chancellor Prof. Haruna Ayuba has reiterated the management’s dedication to furthering Nigeria’s development agenda by encouraging critical thinking, intellectual curiosity, and scholarly achievement.

Ayuba made this statement on Tuesday at the university in Karu, Nasarawa State, during Prof. Nuhu Gado’s tenth inaugural lecture.

The talk, “Strategic Management of Nigeria’s Industrial Sector and Economic Development: From Dumping and Slumping to Japa Syndrome,” looked at how strategic management may change the industrial landscape of the nation.

According to him, turning national issues into possibilities requires creating an atmosphere that encourages critical and creative thinking.

He claims that the subject is fundamental to Nigeria’s economic destiny.

“This theme resonates deeply with our socio-economic realities, where Nigeria faces unprecedented opportunities as well as remarkable challenges,” he stated.

Ayuba praised Prof. Musa Dankyau, the Deputy Vice-Chancellor, for organizing the lecture series and Gado for the breadth of his study.

He claimed that Nigeria’s sustainable development program faced existential dangers from the large-scale migration of gifted youth seeking better opportunities, pointing out that Gado acknowledged the need for calculated measures.

Ayuba said the lecture would give evidence-based methods and governance frameworks capable of reversing harmful trends in the industrial sector.

He went on to say that the series had achieved its first milestone and that postgraduate students and researchers would profit from the compilation of the first ten lectures into a single volume.

He asked academics who had not yet given their first lectures to continue the custom.

Gado, a professor of strategic management, gave the talk and stated that through visioning, goal-setting, strategy creation, implementation, and regular review, strategic management gives organizations and countries long-term direction.

According to him, firms frequently perform better when they use creative tactics supported by great resources.

Gado pointed out that although Nigeria’s industrial development had followed trends of export promotion and import substitution, the business climate continued to either support or impede industrialization.

He referenced research demonstrating that the availability of energy has a major impact on the expansion of micro, small, and medium-sized businesses, pointing out that businesses frequently spend more than 20% of their budget on power generation.

He clarified that at a period when infrastructure, institutions, and technology were inadequate, Nigeria’s admittance into the World Trade Organization and the abolition of tariffs exposed local firms to fierce competition.

According to Gado, a number of businesses, including Dunlop, Michelin, Exxon, Shell, and TotalEnergies, were compelled to leave the nation due to these difficulties, insecurity, and inconsistent policies.

Due to different operational obstacles, he continued, companies like PZ Cussons, GSK, Procter & Gamble, Sanofi, Equinor, Binance, Microsoft, and Bolt left the nation in 2024.

He clarified that at a period when infrastructure, institutions, and technology were lacking, Nigeria’s admittance into the World Trade Organization and the elimination of tariffs exposed local firms to fierce competition.

According to Gado, a number of businesses, including Dunlop, Michelin, Exxon, Shell, and TotalEnergies, were compelled to depart the nation due to these difficulties, insecurity, and inconsistent policies.

According to him, a number of operational obstacles caused companies like PZ Cussons, GSK, Procter & Gamble, Sanofi, Equinor, Binance, Microsoft, and Bolt to leave the nation in 2024.