Babcock Business School champions knowledge economy for innovation, sustainable development

…unveils second edition of doctoral book of abstract, and new journal

Babcock Business School (BBS) has championed the advancement of a knowledge-driven economy, emphasising that innovation, research and entrepreneurship are the critical pillars for achieving sustainable development in Nigeria and across Africa.

 

This was disclosed during the institution presentation of the doctoral book of abstract second edition, as well as the launch of new journal of business development and sustainability on Friday at Babcock University, Ilisan-Remo campus.

 

Omo Aregbeyen, professor of Economics at the University of Ibadan, in his keynote address, themed; ‘Research, Innovation, and Sustainable Development in the Knowledge Economy: Building Nigeria’s Future from the Classroom to the Marketplace’, said in a knowledge economy, the most valuable asset is not what people have in their head.

“Though, Nigeria’s wealth comes from oil, land, labour as resource economy, while wealth from factories and machines serve as industry economy.

“But in a knowledge economy, the most valuable asset is not what you have in the ground, but what you have in your head,” he said.

Aregbeyen explained that in the knowledge economy, Nigeria has opportunities in areas such as young, digital-native population, mobile penetration above 90 percent, and a large internal market.

However, he noted that the country must close gaps in low R&D spending, weak industry, academia linkage, brain drain and poor research funding.

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“We don’t lack talent. We lack translation. We must move from ‘publish and perish’ to ‘publish and prosper.’

“In the knowledge economy, universities are no longer the custodians of knowledge. We must become the engines of its creation and application,” he noted.

He emphasised that the future is knowledge-intensive, noting that resources will deplete, and machines automate. However, Aregbeyen noted that human creativity, guided by research and values, remains infinite.

Hence, he urged Babcock University to lead the charge, with excellence, faith, and impact.

“Let us build a Nigeria where our greatest export is not crude, but ideas,” he urged.

Olutunde Ojewole, vice-chancellor at Babcock University, speaking about the BBS doctoral book of abstract, and new journal launch, said the institution is creating an enabling environment and an ecosystem where people can grow.

“We’re creating an enabling environment and building an ecosystem where people, and the institution can grow; and the nation is built, and the world is made a better place.

“We want the world to know we’ve only just begun; Babcock Business School is the best among its equals in Nigeria today,” he said.

Rufus Akintoye, executive director/head of Babcock Business School,  in his address, explained that BBS publish research, and make a habit of it, unlike some institutions that only publish.

“The doctoral book of abstracts exists because good research too often stops at the thesis defence. It takes the completed doctoral work produced within BBS, the research problem, the methodology, the findings, the recommendations, and to put it before the people who can use it: policymakers, practitioners, fellow scholars, industry leaders.

“This is still the first publication of its kind by any Business School in Africa. We published the first edition to prove the idea could work, and this second edition to prove it was never a one-off,” he said.

Moreover, Akintoye, disclosed that in the time between the two, the institute’s doctoral pipeline has only deepened, and that the second edition is evidence that more completed research, and disciplines represented, are already shaping practice well before the launch.

“A first edition can be a moment. A second edition is a pattern, which separates genuine institutional commitment from a one-time showcase,” he said.

Yacob Haliso, provost at College of Postgraduate Studies at Babcock University, applauded the BBS team for their efforts in producing intellectual property of such a magnitude.

“Each abstract represents the hard work through the month of reading, question, data collection, and critical thinking, and it’s also a promise of impact.

“The true value of research is not the abstract itself, but what follows in form of publication and policy brief, and that is what this is all about,” he said.

Foluso Ojewole, associate vice-president of research, innovation, and international cooperation, described the BBS international journal of business, development and sustainability as the best, and arguably the first journal in Africa to treat business development and sustainability as a co-equal, mutually reinforcing things.

“We’re not just confident of this claim, we are rather inviting scrutiny of it. Incidentally, it’s the same standard of intellectual honesty we intend to hold every submitted manuscript to Babcock University Medical Journal that is also in highly indexed production,” she stressed.

Ayodeji Ajibade, deputy director at Babcock Business School, appreciated everyone who contributed to making the event a success.

“On behalf BBS, we express our heart-felt appreciation to everyone who contributed to the success of todays presentation of doctoral book of abstract and the launch of the journal of business, development and sustainability,” he said.