Former Governor of the Central Bank of Nigeria, CBN, Professor Charles Soludo, Tuesday said that for Nigerian economy to thrive, the country needs to be aggressive in innovation and competitiveness.
Soludo who is currently a member of the Economic Advisory Council, gave reasons why the country’s economy records poorly, despite efforts by the current administration to boost it.
Speaking at a summit organised by Platform Nigeria, a vision of Poju Oyemade, the senior pastor of Covenant Christian Centre, Lagos, the renowned Professor of Economics opined that the game of the future is “innovate, compete or die.” He said Nigeria needs to start preparing for a world without oil, which calls for innovations in diverse aspects of the economy. “We need to start preparing for 400 million people that will soon be upon us in a world without oil. We have been living on the life support of oil, when oil goes up, the economy goes up and when oil comes down, the economy comes down.”
He said Nigeria needs to be committed to equipping its people and youth with technology. “The misery that will befall us is to continue to churn out millions of semi-illiterates youth and largely unemployed citizens,” he warned.
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