Looking beyond resources based economy: Nigeria must move towards knowledge based economy Part 1 by Engr. Zarma

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BY ENGR. MUHAMMAD ZARMA, JUNE 22, 2023, 4:50 PM


In recent times I've not seen any government that has taken so swift some decisions, hard decisions like the present government, nearly three weeks into government and so far reforms have started to gain some momentum but everything must come with a price and it's not meant to please everybody but if that's what it takes to make a country great then so be it.

And I ask myself, is our problems In anyway related to resources? Looking at the issue of the subsidy removal, by this I mean should the natural resources be our only to earn revenue and survive or we have other options that are better than exploring these resources? What will be the buy back for Nigeria given that almost all the countries in Africa are singing the same song. For me I think that idea is rather an outdated theme, Nobody is doubting the role resources play in economic and growth of a country, but could there be better ways?.

The world has gone beyond natural resources as a determinant in growth and GDP , infact the world is by far ahead of us, and surprisingly don't think that when I use the term world, I meant Europe or the U.S, Russia, china etc, it's actually our own world fondly called third world.

India is a developing country, they have a near zero index on natural resources, yes they can feed themselves with the resources but that has not catapulted Indias GDP favourably in the global scene, there is poverty in India, something else did. Singapore don't have any potential natural resources that's of commercial value, and as I understand Malaysia borrowed or bought palm seedlings from Nigeria in the 60s and made it a commercial success and the story goes and on.

There must be a way to think outside the box and use the God given talents of Nigerians to develop an economy that's diversified and flexible enough to rotate around the global changes and needs.


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