Dangote Calls For Nigeria Transition To Knowledge-Based Economy

Alhaji Aliko Dangote, the Chief Executive Officer (CEO) of the Dangote Group has called for Nigeria’s transition from a resource-based to a knowledge-based economy.

Dangote made the call on Saturday while speaking at the 38th Convocation of Bayero University, Kano during the pre-convocation lecture.

The business mogul and Africa’s richest entrepreneur said, “Given the tremendous benefits that the knowledge economy offers, it is vital that Nigeria makes the transition from a resource-based economy to a knowledge-based economy.

“Countries like South Korea, India, China, and the Asian tigers at one time or the other took the decision to institutionalise knowledge economy and are today reaping the benefits.

“Ismail Radwan and Giulia Pellegrini in a World Bank publication stated that harnessing knowledge for development is not a new concept as it has always been central to development and can mean the difference between poverty and wealth.

“They argued that the knowledge economy is not just about establishing high-tech industries and creating an innovative and entrepreneurial culture. Simply adopting existing technologies widely available in developed countries can dramatically boost productivity and economic growth,” the business mogul said.