Federal University Otuoke played host to the First National Conference of the Faculty of Management Sciences from the 5th – 7th of May, 2024.

 

The Chairman of the Conference, Dr. James Ekerare Neminebor, who is also the President, Association of National Accountants (ANAN) led a delegation prior to the conference on a courtesy call to the Vice Chancellor of FUO in his office. Prominent members of the delegation were Professor Okey Onuchukwu, Vice Chancellor, Ignatius Aguru University, Dr. Kayode Olusola Fasua, Amgbare Tennbebelakumo amongst other stakeholders. The team lead, President and Chairman of the conference, thanked the Vice Chancellor, Professor Teddy Charles Adias, for  opening his doors to host the First National Conference of the Faculty of Management Sciences and the support their members are getting from the University. He spoke on  collaboration with the University the area of Human Capital Development, Research, among others.

The Vice Chancellor in his response welcomed the team to the University, expressing his pleasure in hosting the National Conference of the Faculty. He presented them with gifts while soliciting for their continued prayers for the growth of the institution.

 

The Conference which held at the Post Graduate auditorium of the West Campus of the University had as its theme, “Managing the Complexities of Subsidy Removal in the Petroleum Industry in Nigeria”. 

 

Declaring the 2-day Conference open, the Vice Chancellor of Federal University Otuoke, Prof.  Teddy Charles Adias noted that ANAN as a professional body has played a pivotal role in the advancement of the accounting profession in Nigeria.

 

He pointed out the comparative advantage of the University and expressed commitment in further advancing the development of the institution for academic excellence.

 

The keynote speaker and Vice Chancellor Ignatius Ajuru University of Education, Prof. Okechukwu Onuchukwu in his lead presentation , blamed corruption and policy inconsistencies of government as reasons for Nigeria’s economic woes.

Speaking on the theme of the conference, “Managing the Complexities of Subsidy Removal in the Petroleum Industry in Nigeria”, Prof. Onuchukwu said the subsidy removal has worsened income inequality, inflation, high cost of living, increase in the price of goods, poverty and social unrest.

 

He noted that as long as Nigeria continues to be a consumer nation, it will not make any headway without production.

 

According to him, the removal of petroleum subsidy was ill -timed and the complex decision has a multi-faceted implication.

 

Prof. Onuchukwu maintained that the removal would have followed a well thought out strategy that considered the mitigation measures for the vulnerable population and promote sustainable economic growth and development.

While urging the government to ensure that existing refineries work to significant capacity,  Prof. Onuchukwu also advocated for optimal performance of modular refineries to ensure availability of petroleum products in Nigeria.

 

The Vice Chancellor in his address at the conference, suggested that the Federal Government should provide sustainable welfare buses and should collaborate with higher institutions for better output than leaving it in the hands of politicians.

 

The conference papers were well articulated and analyzed with the intent of issuing a communique to the government and relevant authorities at end of the Conference.

 

From the Publications Unit