Dangote Suggests Nigeria Shift To A knowledge-Based Economy

AlhajiAlikoDangote,theCEOoftheDangoteGroupandtherichestmaninAfrica,hassuggestedthatNigeriatransitionfromaresource-basedtoaknowledge-basedeconomy.

Aspartoftheeventsplannedforthe38thconvocationofBayeroUniversity,Kano,thisweekend,Dangotemadetherecommendationinapre-convocationlecture. Nigeriamustmaketheshiftfromaresource-basedtoaknowledge-basedeconomyinordertoreaptheenormousbenefitsthattheknowledgeeconomyoffers.

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Atonepointoranother,nationslikeSouthKorea,India,China,andtheAsiantigersmadethedecisiontoinstitutionalizetheknowledgeeconomy,andtheyarenowenjoyingtherewards.

“Harnessingknowledgefordevelopmentisnotanewconcept;ithasalwaysbeencentraltodevelopmentandcanmeanthedifferencebetweenpovertyandwealth,”IsmailRadwanandGiuliaPellegriniwroteinaWorldBankpublication. Theycontendedthatdevelopinghigh-techindustriesandfosteringaninnovativeandentrepreneurialcultureareonlytwoaspectsoftheknowledgeeconomy.

Thebusinessmogulstated,“Justimplementingwidelyavailabletechnologiesfromdevelopednationscansignificantlyincreaseproductivityandeconomicgrowth.” TheWorldBankstatedthatNigeriamustfocusonthebusinessenvironment,educationandskills,innovationsystems,andinformationcommunicationinfrastructureinordertomakethetransitiontoaknowledgeeconomy.

ThisstatementwascitedbyDangote,whichwasrepresentedbyEngineerMansurAhmed,GroupExecutiveDirectoroftheDangoteconglomerate.

Accordingtohim,Nigeriarequiresabusiness-friendlyclimatethatencouragestheeffectiveapplicationofcurrentknowledge. “Therearenumerousgovernmentresearchinstitutes,andbusinessescanutilizetheknowledgethathasbeenaccumulatedovertime.” Newseedandlegumevarieties,amongothers,havebeendevelopedbyagriculturalresearchinstitutesandarebeinggrowninsmallquantitiesontheirdemonstrationfarms. Here’swherethegovernmentshouldstepinandofferfinancialincentivestobusinessesthatadoptthesenewvarieties,hesuggested. Additionally,Dangotestatedthatthegovernmentmightchoosetophaseoutolder,low-yieldingcropspeciesandoffersubsidies,freefertilizer,andtechnicalassistancefromagricultureextensionofficerstopeoplewhoarewillingtoplantthenewones.

“Thegovernment,viaitsagencies,canassistinenforcingthatcompaniesandenterprisesincorporatecurrentknowledgeintotheiroperations. TheauctionandlicensingofGSMoperatorsservedasexamplesoftheNigeriangovernment’sabilitytodothis. Thatoneactiontransformedthecommunicationsindustryquicklyandproducedmillionsofdirectandindirectjobs. Becausethebidwinnersbroughtthenecessarytechnologiesandskillstoestablishtheirnetworks,italsoledtothetransferofcurrenttechnologiestoNigeria. Bybuildingmoreentrepreneurshiphubsandfacilities,wecansupportandencourageyoungpeopleinNigeriawhoareenthusiasticaboutnewtechnologiestotakeadvantageoftheirinnateabilities.

Oureducationalsystemneedstobereformed,placingastrongerfocusonskilldevelopmentthanoncertification. Itisappropriatetoinviteinnovators,companyfounders,andcreatorstospeak,accordingtoDangote. Amongthedignitariespresentatthepre-convocationlecturewereProf.SagirAbbas,thevicechancelloroftheuniversity,andBarauJibrin,thedeputypresidentoftheSenate. Attheconvocationscheduledforlatertoday,honorarydoctoratedegreeswillbeawardedtotwonotableindividuals,namelyDr.AkinwunmiAdesina,PresidentoftheAfricanDevelopmentBank,andJibrin,DeputySenatePresident.Atotalof11,284studentswillreceivedegrees.