Africa’s richest man and Chief Executive Officer of Dangote Group, Aliko Dangote, has tasked Nigeria to move from a resource-based economy to knowledge-based economic system.
Mr Dangote made the recommendation in a pre-convocation lecture delivered as part of activities lined up for the 38th convocation of the Bayero University, Kano.
He said, “Given the tremendous benefits that the knowledge economy offers, it is vital that Nigeria makes the transition to a knowledge-based economy. Countries such as South Korea, India, China, and the Asian tigers at one time or the other took the decision to institutionalise knowledge economy and are today reaping the benefits.
“Ismail Radwan and Giulia Pellegrini in a World Bank publication stated that harnessing knowledge for development is not a new concept as it has always been central to development and can mean the difference between poverty and wealth.
“They argued that the knowledge economy is not just about establishing high-tech industries and creating an innovative and entrepreneurial culture. Simply adopting existing technologies widely available in developed countries can dramatically boost productivity and economic growth.’’
He was represented by the Group Executive Director of the Dangote conglomerate, Mansur Ahmed.
Mr Dangote quoted the World Bank as stating that for Nigeria to make the transition to a knowledge economy, it must pay attention to the business environment, education and skills, innovation systems and information communication infrastructure.
He said Nigeria needed a conducive business environment that provided incentive for the efficient use of existing knowledge.
