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Knowledge, Productivity and Innovation in Nigeria - Creating a New Economy (Paperback)
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Knowledge, Productivity and Innovation in Nigeria - Creating a New Economy (Paperback)
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Nigeria has a bold national vision of becoming one of the world s
top 20 economies by 2020. However, despite being the 8th most
populous country in the world, it ranks 41st in terms of GDP and
161st in terms of GDP per capita. Nigeria has long depended on oil
for its exports and government revenues. This dependence has led to
rent seeking and a reluctance to examine potential avenues for
economic diversification. The authors of 'Knowledge, Productivity,
and Innovation in Nigeria' believe that the goal of becoming a
top-twenty economy can only be achieved if Nigeria makes the
transition to a new economy rooted in the 21st century that
harnesses the power of knowledge and avoids a static oil-based
growth strategy. Knowledge has always been central to development,
but new technologies have made it globally accessible. Countries
such as the Republic of South Korea, India, and the United States
that have exploited new technologies and know-how have pushed their
innovation and productivity frontiers. Countries that have failed
to do so risk remaining mired in poverty. In order to achieve
Vision 2020, Nigeria must move beyond the stop-start patterns of
oil-based development that have characterized it since
independence. It must create a stable and prosperous economy based
on a critical mass of knowledge workers. Knowledge, Productivity,
and Innovation in Nigeria examines how Nigeria can prepare for this
century and where its leaders can focus to achieve their vision,
presenting the experiences of other countries from which Nigeria
can learn."
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