Scholar Wants Adoption Of Islamic Principles To Tackle 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 quite a number of Islamic principles are available that could help the country in its economic recovery bid.

Qudus spoke in Ado Ekiti, the Ekiti State capital in a Ramadan lecture organised by the Nigeria Union of Journalists (NUJ) Ekiti State Council titled: “Unlocking Economic Stability In Nigeria, Leveraging On Islamic Principle.”

He listed some of the policies capable of taking the country out of the woods to include but not limited to ; 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 funds among others.

Qudus of 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 worse if current patterns and styles continue.

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

The Islamic scholar hinged the worsening economic condition of 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.