Worried by the growing number of the unemployed graduates and school leavers in Ilorin Emirate, the umbrella body of all socio-cultural groups in Ilorin emirate - the Ilorin Emirate Descendants Progressive Union (IEDPU) recently held its first economic summit, where papers were presented by distinguished personalities on how to revamp the hitherto thriving economy of the emirate.

The well organised and well attended economic summit took place at the African peoples hall, Onikanga, GRA, Ilorin, specifically on December 8, 2012 under the chairmanship of the former President of the court of Appeal and pioneer chairman of the Independent Corrupt Practices and other related Offences Commission (ICPC), Justice Mustapha Akanbi (Rtd).

All the speakers at the epoch-making summit dwelled on topical issues that revolved around transforming the economic climate of the emirate to enable it provide job opportunities for the youths and reduce the alarming level of poverty in Ilorin and its environs.

The president of IEDPU and retired Chief Judge of Kwara state, Justice Saka Yusuf set the tone for the summit when in his opening remarks; he described the economic situation of Ilorin community as unpalatable.

He remarked, "I am most privileged, fortunate and delighted to warmly welcome you to this august occasion being organised by IEDPU to address the unpalatable and worsening economic situation that is bedeviling the Ilorin Emirate, particularly in recent times.

"Although, Ilorin had never been the most industrialised entity in Nigeria, the Emirate some years back, was blessed with so many industrial and commercial outfits which enhanced the economic well-being and respectability of the people of the emirate".

He recalled that the people of the emirate also engaged in worthwhile traditional enterprises and trades such as Aso-oke (traditional cloth making), embroidery, pottery and animal husbandry among others.

Justice Yusuf however, lamented that, "the gains of yester-years, derived from such vocations, had been painfully eroded by the passage of time, mad rush for white collar jobs and general economic denudation occasioned by the negative implications of unbridled globalisation, which have left our people poorer and more economically disadvantaged".

"When the traditional occupations have been neglected and virtually dead, the once booming opportunities in the public/civil service and the possibilities of being engaged by erstwhile thriving privately-owned establishments, which have virtually disappeared, conspired to expose our people to poverty and its attendant decadence," the IEDPU president submitted.

He added, "the situation is so alarming because its effects had manifested heavily on the increasing population of jobless youths across the emirate coupled with the concomitant consequences on the security and general well-being of Ilorin Emirate.

"The persistence of these problems as observed by the union coupled with the patriotic observations of participants at the last (but one) national conference of the union held in December, 2011, compelled her to engage in series of activities that eventually culminated in today's event".

In his short speech, the chairman of the economic summit, Justice Mustapha Akanbi, expressed delight that, "the IEDPU has broken new ground. It is making progress. It is making history. And to me, it is great to be part of this history of our people."

He noted, "by organising an economic summit at this point in time, the IEDPU has shown itself to be alive to the problems of the time and social responsibilities that have been foisted on us in these turbulent times.

"It is common knowledge that the generality of our people are experiencing difficult times, the poor are becoming poorer, while the exploiters and looters of our commonwealth are becoming richer. Poverty continues to stare us in the face.

"The people of Ilorin, once known to be hard working and committed to duty have suddenly become a different thing altogether. Some of them have become beggars and suddenly going from place to place to beg for sustenance. The most disheartening is the fact that the once thriving factories in the city have all closed down".

Delivering a lecture on "Survey of Ilorin Emirate Economy: past, present and future, a renowned historian and astute administrator, Alh. L. A. K. Jimoh, noted that Ilorin started as a flourishing economic and commercial centre. He added that the community in the past years boasted of some companies and industries where indigenes of the emirate played major roles.

Going down the memory lane, Jimoh pointed out that the naming of family compounds or houses in Ilorin was done to reflect the trade and vocations that the various compounds were famous for.

Jimoh who listed names of the earliest famous industrialists in the emirate said he deliberately did that to show that the current economic situation of the community calls for a concerted efforts of all to revitalise it.

In his own presentation, Alh. Ibrahim Yahaya who spoke on "Generating capital for Businesses" identified equity capital and debt capital as the two basic sources of capital to fund businesses.

He also identified the agencies of government such as the Bank of Industry, small and medium scale enterprise development agency of Nigeria (SMEDAN) and similar institutions that could be approached for financial assistance towards establishing industries by prospective investors from the emirate.

In his paper titled "Harnessing human capital of the Emirate", an erudite scholar and administrator, Prof. Shehu Jimoh, noted that all the fields of specialisations have experts who are indigenes of Ilorin emirate.

He identified lack of unity and parochial interests as factors inhibiting the emirate from putting forward its best brains for appointments both at the state and federal levels.

As a solution to the problems bedeviling the emirate, Jimoh urged all the leaders of Ilorin community to double their effort in assisting in placing qualified emirate indigenes in federal positions because of their multiplier efforts on the community.

And to underscore the importance of the economic summit, all the papers presented and oral submissions made at the colorful event had been made in a book form.