IN 1965, when Professor Saburi Biobaku , the deputy Vice-Chancellor of UNIFE advised all lecturers to support the party of the day, which was NNDP, a splinter group of the Action Group led by Chief Samuel Akintola, Professor Aluko sided with Awolowo’s side of the Action Group who were receptive of the recommendations offered by the Ife group.
Professor Aluko’s views on economic growth and public finance was less elitist and was to approach decision making by using the federal, state and local government institutions as an instrument of growing the national economy. Professor Aluko’s view was drawing funds through higher rates of taxation and tracking tax defaulters to generate government income.
As oil production increased in Nigeria in the 1970s, Professor Aluko was still inclined to support the thought that the state can be an engine of industrialisation through funding of technical education, agriculture extension and infrastructural development. With a technical literate populace, the adoption and local reproduction of technology will be feasible. In addition, introducing mechanized farming will increase the income level of commercial farmers and the taxable income of government.
During General Ibrahim Babangida’s administration, Professor Aluko still steadfastly held on to the thought that the tiers of government had a major role to play in developing the economy. He was critical of the liberalization prescriptions of the structural adjustment programme adopted by the government.