UNILORIN’s gold brain wins Adam Smith Prize for PhD excellence


A first class alumnus on the University of Ilorin, Dr Babatunde Omotosho, has won the 2021 Adam Smith Business School Prize for PhD Excellence in Economics.

Omotosho is not a newcomer in the realm of such excellent finishing as the man who graduated from the Department of Economics, Unilorin, in 2000, was also the best graduating student in his class.

Prizes he won at the university included Departmental Prizes 1998/99 Session; Madam Oluwafunmike Kolawole Memorial Prize in Economics 1998/1999 Session; and Victor Odozi Prize in Economics – 1998/1999 Session.

News of the latest feat is contained in the Unilorin Bulletin Tuesday edition.


Omotosho, who is currently an Assistant Director in the Central Bank of Nigeria (CBN), recently completed his PhD studies at the University of Glasgow under CBN sponsorship.

His winning thesis is titled: ‘Oil Price Shocks and Macroeconomic Policy in Resource-rich Emerging Economies’.

The prize is in memory of Adam Smith, fondly acknowledged as the father of modern economics. Smith lectured at the University of Glasgow and was appointed a Professor in 1751.

Omotosho won the prize based on the excellence of his PhD thesis and the significance of its contribution to the field of Economics.

Some of his findings have been published in high-ranking journals, including the Journal of Economic Dynamics and Control published by Elsevier.

Others were in Macroeconomics and Finance in Emerging Market Economies published by Taylor and Francis, West African Journal of Monetary and Economic Integration, and the CBN Journal of Applied Statistics.

The University of Glasgow is ranked among the top 100 universities in the world by Times Higher Education (THE).

In 2021, it ranked 92nd in the world and 11th in the United Kingdom.

He later obtained a Master’s degree in Economics in 2008 from the University of Benin and completed a second Master’s degree in Applied Statistics and Datamining from the University of St Andrews, United Kingdom in 2011.

Omotosho commended Unilorin for “giving him a solid foundation in Economics and being part of his success story”.

He expressed optimism that the award would encourage undergraduate students of the Department of Economics to imbibe the Unilorin’s values of excellence and hard work.