BY ENGR. ZARMA, JUNE 22, 2023, 5:15 PM
Saudi Arabia, the gulf states like Dubai, Oman , Qatar, Bahrain etc though they have oil, but their dependency on oil is gradually coming shifting towards other sectors with a huge investments on other sources of revenue. The natural resources they have contributed insignificantly to their GDPs
Today the P&O leasing company own by Dubai has taken over most of the management of ports across the world, India has broken the jinx of having to lead the world in ICT, healthcare etc, Singapore laverage on managing and maintaining most ports in south east Asia, these are just a few of the countries that never considered natural resources as an element of growth.
What Nigeria should be looking for is a way to improve the quality of education, if one is educated then we can at least adjust to the demands and needs to join the race of self sufficiency and time has proven to all that the economy of the world is decided by those who have the knowledge and not the resources. The world is now on a revolution of steming the natural resources to a knowledge capital
However, I believe there is also need to have the necessary requirements for the country to achieve this feat, first is the sustainability and consistency of policies and regulations, then defined and principled road map as well as prudence and management of policies which will enhance productivity, indeed I'm not suggesting a compete neglect of the resources however it should be at parallel to the knowledge which means inducing the knowledge to promote the resources and then achieve the goals by investing heavily on human capital as well laverage on the value chain index of resources.
In the next 20 to 50 years the world will need skills and knowledge driven by passion and innovations driven by instinct and diversity in the global map of development.. This is the future, the earlier our leaders come to terms with the practicality of knowledge as the indisputable force to reckon with the better. Knowledge driven economy is the next generational paradigm shift we all must learn to accept, adopt, adapt , improve and implement. God bless Nigeria
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