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Dr Luqman Olanrewaju Afolabi

Dean, School of Economics, Finance and Accounting

Dr Luqman Olanrewaju Afolabi is an economist, university educator and policy researcher specializing in international economics and development. Over more than ten years he has moved between academic leadership, postgraduate teaching, applied econometric research and economic policy advisory work in Rwanda, Nigeria, Malaysia and the wider East and West African regions.

He holds a PhD in International Economics and Development and an MSc in Economics, both from Universiti Utara Malaysia (AACSB-accredited), and a BSc in Economics from Lead City University, Nigeria. He joined the University of Kigali as Senior Lecturer in Economics in 2021 and now serves as Dean of the School of Economics, Finance and Accounting, providing academic and strategic leadership across the School’s economics, finance and accounting programmes.

Before this academic appointment, he held senior advisory roles including Principal Economic Consultant at ON Consulting Group Ltd in Rwanda and Planning, Reporting and Advising Officer with the United Nations Integrated Office in Somalia. He is a Senior Research Consultant at the Institute of Policy Analysis and Research, Rwanda (IPAR-Rwanda), where he continues to lead and contribute to major national research programmes. His work consistently bridges rigorous econometric analysis and practical policy formulation for government, regional and international development partners.

He is the author or co-author of more than 25 peer-reviewed publications, with research appearing in journals such as Insight on Africa, the International Journal of Social Economics, the Journal of Economic & Management Perspectives and the South East European Journal of Economics and Business. He applies advanced quantitative methods, gravity models, panel cointegration and stochastic frontier analysis, to questions of trade, regional integration, institutional quality and inclusive growth. He was awarded the University of Kigali’s Best Research Award in 2022, and held a full PhD scholarship from Universiti Utara Malaysia from 2013 to 2017.

Education

  • PhD, International Economics and Development, Universiti Utara Malaysia (AACSB-accredited), 2013–2017
  • MSc, Economics, Universiti Utara Malaysia (AACSB-accredited)
  • BSc, Economics, Lead City University, Nigeria

2026

  • Munyambonera, E. F., Amadu, F. O., Mayanja, E., Afolabi, L. O., et al. (2026). The impact of financial inclusion on economic growth in Uganda from 1986 to 2022. Discover Sustainability. https://doi.org/10.1007/s43621-026-04717-1

2025

  • Afolabi, L., Ejumedia, P. E., Oduyoye-Ejumedia, A. O., Kabanda, R., & Madichie, N. O. (2025). Unravelling the link between bilateral investment treaties and environmental sustainability in Sub-Saharan African countries. Insight on Africa, 17(1), 7–29.
  • Afolabi, L., Gahima, E., Nyabyenda, R., & Kayitesi, E. (2025). A comprehensive review of youth employment policies and programmes in Rwanda. Youth Employment Programmes in Africa, 141–167.
  • Madichie, N., Mensah, K., & Afolabi, L. (2025). Exploration of culture, heritage and museum in sustainable city development.

2024

  • Rutaremara, A., & Afolabi, L. (2024). Dynamic effects of fiscal policy on output in Rwanda. Journal of Economics, 8(1), 58–72.
  • Alabi, S. O., Yusuf, H. A., Shittu, W. O., Afolabi, L. O., & Gold, K. L. (2024). Does infrastructure alter the nexus between financial development and economic growth? Insights from Sub-Saharan Africa. Journal of Academic Research in Economics, 16(1).
  • Munyentwari, J. C., & Afolabi, L. (2024). Analysis of exchange rate volatility on trade balance in Sub-Saharan Africa (SSA): A stochastic frontier approach. Journal of Economics, 8(1), 37–50.
  • Mutoni, H., & Afolabi, L. (2024). The role of effective planning on performance of Kigali Bulk Water Supply Project in Kanzenze Cell, Bugesera District, Rwanda. Journal of Entrepreneurship & Project Management, 8(1), 40–54.
  • Nzirabatinya, S., & Afolabi, L. O. (2024). Digital financing services and agribusiness performance in Rwanda. Journal of Finance and Accounting, 8(1), 113–126.

2023

  • Ojo, S. I., & Afolabi, L. O. (2023). Trade openness and economic growth in Nigeria. Lagos Journal of Banking, Finance and Economic Issues, 4(2), 15–33.

2022

  • Ogunro, T., & Afolabi, L. (2022). Evaluation of access to electricity and the socioeconomic effects in rural and urban expanses of Nigeria. International Journal of Social Economics, 49(1), 124–137.

2021

  • Yusuf, H. A., Afolabi, L. O., Shittu, W. O., Gold, K. L., & Muhammad, M. (2021). Institutional quality and trade flow: Empirical evidence from Malaysia and other OIC member countries in Africa. Insight on Africa, 13(2), 177–191.
  • Ogunro, T. T., & Afolabi, L. O. (2021). The effectiveness of agricultural sector in reducing unemployment in Nigeria. Lead City Journal of Economics, 2(1), 47–63.

2020

  • Afolabi, L. O. (2020). Does free trade and institutional quality affect the Economic Community of the West African trading bloc? In Frontiers in African Business Research (pp. 305–318).

2016–2017

  • Bakar, N. A. A., & Afolabi, L. (2017). Causality nexus between trade, political instability, FDI and economic growth: Nigeria experience. International Journal of Trade and Global Markets, 10(1), 75–82.
  • Afolabi, L. O., Aznin, A. B. N., & Izraf, A. A. M. (2017). ECOWAS regional integration and trade effect: A dynamic panel cointegration method using the gravity model. Journal of Economic & Management Perspectives, 11(1), 165–172.
  • Olanrewaju, A. L. (2017). The impact of free trade and institutional quality on Economic Community of West African States trade.
  • Olanrewaju, A., Bakar, N., & Aziz, M. I. (2017). Openness and ECOWAS regional trade: A panel cointegration analysis using a gravity model. Available at SSRN.
  • Afolabi, L. O., & Bakar, N. A. A. (2016). Causal link between trade, political instability, FDI and economic growth – Nigeria evidence. Journal of Economics Library, 3(1), 100–110.
  • Luqman, A. O., Bakar, N. A. A., & Izraf, A. A. M. (2016). The gravity model approach: An application on the ECOWAS trading bloc. South East European Journal of Economics and Business, 11(1), 67.
  • Afolabi, L. O., Abu, B. N. A., & Azman, A. M. I. (2016). Openness and ECOWAS regional trade: A panel cointegration analysis using a gravity model. Актуальні проблеми економіки, 319–328.

2013–2015

  • Olanrewaju, A., Bakar, N., & Aziz, M. I. (2015). Regionalism and ECOWAS trade performance: A gravity model approach. Boğaziçi Journal Review of Social, Economic and Administrative Studies, 29(2).
  • Afolabi, L., & Bakar, N. A. (2015). Purchasing power parity in West African Monetary Zone. International Journal of Management and Applied Science, 1(7), 144–149.
  • Olanrewaju, A. L. (2013). Effect of trade liberalization on manufacturing sector performance in Nigeria. Unpublished MSc thesis.
  • International economics, trade policy and regional integration (ECOWAS, AfCFTA)
  • Development economics and sustainable growth in Sub-Saharan Africa
  • Macroeconomics, monetary economics and fiscal policy analysis
  • Labour economics, youth employment and skills development
  • Applied econometrics: gravity models, panel cointegration, stochastic frontier analysis
  • Public-sector economics, institutional quality and evidence-based policy design

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