A Fellow of the Nigerian Academy of Engineering, Mr. Ifeoluwa Oyedele, has called for urgent infrastructure upgrades and human capacity development in Nigeria to keep pace with emerging technologies.
Oyedele made the remarks on Wednesday at the Risk Managers Society of Nigeria (RIMSON) conference in Abuja.
The theme of the conference was: “Sustainable Technology Innovations and Risk Management for Resilient Economies.”
He warned that inadequate investment in these areas could lead to inefficiencies and setbacks in national development.
According to Oyedele, improved private-public collaboration in technological innovations is needed to promote social cohesion, inclusion, and peaceful community relationships.
“The consideration of sustainable technological innovations and risk management processes has huge value, exerting positive effects at individual, business, and societal levels. Nevertheless, it should be carefully planned and detailed to mitigate errors as much as possible,” he said.
Oyedele advocated the continuous evolution of businesses, policymakers, and societies, urging them to embrace integrated risk management. This, he explained, would ensure economic systems remain robust, inclusive, and future-ready to cope with changes and opportunities.
He added that adopting sustainable technologies empowers companies to move from traditional linear economic models to circular economy models. The circular economy is a regenerative, closed-loop system designed to minimize waste and keep materials in use as long as possible.
“Sustainable development innovations and risk management are essential for building resilient economies capable of thriving in an uncertain world. While innovation drives growth and efficiency, risk management ensures stability and preparedness. This integration creates a balanced approach to development that prioritizes sustainability, adaptability, and long-term prosperity,” Oyedele said.
He stressed that sustainable growth in critical sectors depends on deliberate funding for modern tools and skilled manpower.
Oyedele also noted that while Nigeria has vast potential, gaps in cutting-edge facilities and continuous professional training continue to undermine productivity and innovation. He urged the government, private sector, and academic institutions to collaborate on policies and programs that prioritize research, digital infrastructure, and workforce upskilling to meet global standards.
He emphasized that building resilient systems requires not just importing technology but also developing local expertise to manage, adapt, and innovate.
RIMSON is an independent non-profit organization comprising members from a diverse range of risk management disciplines.
