Nigeria Must Invest In Innovative Technology To Survive

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    Former Governor of Central Bank Of Nigeria, Professor Charles Chukwuma Soludo has reiterated that Nigeria must invest in innovative technology to survive in the 21st century without oil.

    Soludo said this in his paper titled, “Economic Restructuring Of Nigeria: Nigeria of the future.” at The Platform, an annual forum organized by Covenant Christian Centre, Iganmu, Lagos.

    Soludo made it clear that technological innovation will usher in the needed development to usher Nigeria into the future.

    “By 2050, there will be 400 million Nigerians and all these people will need water, electricity and jobs.

    “20 years time, oil will be history and we need to prepare to welcome 400 million Nigerians in 20 years time by putting in the kind of institutional arrangement that will make this future sustainable.

    “The world will need new systems to meet these new needs so we either have to innovate, compete or die.”

    Soludo said that economic restructuring of Nigeria is all about positioning Nigeria to compete and win in an increasingly complex world, thereby guaranteeing the security and prosperity of 400 million Nigerians in a world without oil.

    “The challenge,” he said, “is how to deliberately optimize the potential of the youth population to be highly productive at home and completely exportable abroad.

    “And we cannot export illiterates in a world driven by technology,” he said.

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