Scholar Recommends Islamic Principles As Remedy To Nation’s Economic Crisis

The Federal Government has been urged to adopt core Islamic principles and policies to address the nation’s economic crisis.

An Islamic scholar, Alhaji Olayiwola Qudus who gave the advice said some Islamic principles are available that could help the country in its economic recovery bid.

Qudus spoke in Ado Ekiti, the Ekiti state capital while delivering the Ramadan lecture organised by the state’s Council of the Nigeria Union of Journalists (NUJ).

The lecture with theme, “Unlocking Exonomic Stability In Nigeria, Leveraging On Islamic Principle,” the scholar listed free-interest loan, zakat and sadakat which mandates the rich to pay certain percentages to the poor, mandatory debt repayment system, prudence management of public fund among other ethos of Islamic to resolve the economic challenges.

Qudus, a Lecturer in the Department of Languages and Linguistics, Bamidele Olumilua University of Science and Technology, Ikere Ekiti, was of the view that the country’s economic situation may get worst with the continuation of current patterns and styles.

“Despite the fact that Nigeria is blessed with numerous natural resources, it is still among the struggling nation of the world just because the right policies and principles have not been applied,” he noted.

The Islamic scholar blamed the worsening economic condition in Nigeria to indiscipline, corruption, frugality, poor policies, ineptitude of leaders, lack of mercy for one another, greed and lack of fear of Allah among others.

As a way out of the situation, he called on government at all levels to establish more industries, reduce the cost of governance, embrace farming, provide the teaming youths with job opportunities and prioritize citizens welfare among other social benefits.