Vice President Yemi Osinbajo said for Nigeria to leap economically, she must build a knowledge-based economy such that the human capital can be sold across the globe.
The Vice President who stated this at the sixth Kaduna Investment Summit holding in the state capital on Thursday, noted that rather than natural resources, a well developed human capital remains an invaluable asset the world over.
The theme of the sixth edition of the summit is ‘Towards a Sustainable Knowledge -ased Economy.’
While saying that digital, Information & communication technology were performing wonders and ruling the world, Osinbajo lamented however that the country was yet to take full advantage of its young talents in this regards.
“The focus today must be developing a knowledge based economy. The knowledge based economy referred to stands for human capital development. Education and knowledge can become productive assets to be sold for profit rather than natural resources.
“Digital data, digital solutions to improve agricultural yields, digital platforms to provide online study. It is possible to move from where we are to knowledge economy. Millions of data in terabytes ate stored in chips, 1,000 megawatts of power can be stored in a battery. The future of financial technology is not in banks. Nigeria is becoming technology investment solution hub in sub Sahara Africa,” he said.
In his address, Governor Nasir El-Rufai said the state has so far attracted $2.8 bn investment through the summit and created 100,000 direct and indirect jobs.
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El-Rufai noted with delight that the state rose from its 14th position to 4th position in Internally Generated Revenue realising N50.7bn in 2020.
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He also said the state was developing a $50million 21.9kw solar mini grid at Igabi, adding that the state had been offered a $200million loan to build a bus rapid transit metro system in the state.
This was just as the governor said the state is investing N80bn on infrastructure development across the state.
He sent further to say that the state had signed an agreement Arla of Denmark to build a ranch for 1,000 Fulani herders’ families with facilities such as grass, water, schools and hospital.
The project, the governor said would gulp N12bn with N8bn from the Central Bank of Nigeria and N2bn from the state while “Arla will contribute €5million.”
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