A Professor of Development Economics, Adebayo Fatukasi, has warned that government policies targeted at poverty eradication in Nigeria will continue to fail if indigenous development economists are not actively involved in the policy process.
He called for stronger collaboration between government and development economists, stressing that such engagement is critical to designing and implementing effective, transformative interventions capable of addressing the country’s rising poverty levels.
Prof. Fatukasi also urged the Federal Government to ensure balanced and simultaneous development across all regions of the country. He noted that disparities remain evident, with the southern regions—South-West, South-East and South-South—recording relatively higher levels of development compared to the northern part of the country, which he said is still lagging behind.
The professor made these remarks on Tuesday, April 21, 2026, while delivering the 59th Inaugural Lecture of Adekunle Ajasin University, Akungba-Akoko, Ondo State. The lecture was titled “Reducing Poverty in Our Land: Divine Mandate of a Development Economist.”
He observed that despite several poverty reduction programmes introduced by successive governments, the country has continued to experience worsening poverty levels. According to him, these interventions have, in some cases, deepened poverty, increased indebtedness and heightened economic dependence due to poor funding, weak coordination, inadequate commitment, faulty design and ineffective monitoring and evaluation.
Listing past government initiatives, he recalled programmes such as the National Accelerated Food Production Programme (NAFPP) introduced in 1972, Operation Feed the Nation and the National Agricultural and Co-operative Bank in 1975, as well as the River Basins Development Authority established in 1979.
He further mentioned the Green Revolution of 1980, Back to Land programme of 1984, Directorate for Food, Roads and Rural Infrastructure (DFRRI) of 1986, Better Life Programme of 1987, National Directorate of Employment (NDE) also of 1986, NALDA of 1992, FEAP of 1998, and more recent interventions such as PAP, NEEDS, N-Power introduced in 2016, and TraderMoni in 2021.
Prof. Fatukasi, citing World Economic Forum data, said about 87 million Nigerians—representing 38.9 per cent of the population—lived below the $2.15 per day poverty line in 2024, placing Nigeria second globally after India in terms of poverty incidence.
He attributed the situation to multiple factors including unemployment, corruption, weak education systems, poor access to education, low savings culture, overpopulation, insecurity, poor governance, inadequate healthcare services, limited access to resources and low investment awareness.
Explaining the role of development economists, he said they analyse key economic indicators such as income distribution, resource allocation, industrialisation, trade, infrastructure, education, healthcare and environmental sustainability in developing economies.
He added that development economists contribute through research, policy formulation, policy analysis, project evaluation, capacity building and advocacy, while also offering policy recommendations aimed at improving infrastructure, human capital development and the business environment.
The professor therefore urged experts in development economics and other stakeholders to design context-specific strategies capable of addressing Nigeria’s structural and systemic economic challenges.
He also stressed the need for locally relevant theories, noting that many existing economic models fail to reflect Nigeria’s cultural and social realities. He cautioned against overreliance on externally driven frameworks, particularly those promoted by international donor agencies, which he said sometimes result in unsuitable policy outcomes.
Prof. Fatukasi further emphasized that development economists must adopt practical approaches that directly improve living conditions and ensure citizens’ basic needs are met.
“Poverty remains a complex issue that requires collective action involving individuals, communities, government and international organisations,” he said.
“What becomes of a child raised in a slum? Effective and impactful government policies remain that child’s hope.”
Earlier in his remarks, the Vice Chancellor of the university, Prof. Olugbenga Ige, described inaugural lectures as intellectual platforms for sharing transformative ideas with the academic community, policymakers and the wider society.
He commended the lecturer for addressing critical national and global development challenges, noting that his contributions provide practical and policy-relevant solutions to socio-economic issues.
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