A former Governor of the Central Bank (CBN) and immediate past Emir of Kano, Muhammad Sanusi, has raised the alarm that the Nigerian economy is about to collapse totally, saying the goose laying the ‘golden egg’ for Nigeria is about to die.
He made this assertion while speaking at the Kaduna Investment Summit on Friday, 24 September, Daily Trust reports.
According to him, today, Nigeria is having difficulties in oil production and he also noted that the product is now being rejected globally because there is no longer a future in carbon.
Sanusi who pointed out that the future lied in a knowledge-based economy, which is the theme of the Summit, however, lamented that Nigeria is behind many African countries in the innovation index ranking 114th globally.
Noting that Ghana with a smaller economy had invested more in education, he lamented Nigeria spent only seven percent of its budget in that direction
Saying “Only eight of every 100 Nigerians who start primary school, complete university.”
According to him, “Globally, work is being redefined. 30 to 40 percent of workers in developed economies will need to significantly upgrade their skills by 2030. And what are the major drivers of this redefinition? ICT and remote working, which we have seen even here with Covid-19.
“There is increased automation and artificial intelligence. Very soon, robots will take over work in most countries and those who would have jobs are those who operate the robots, manufacture the robots, or service the robot.”
Meanwhile, the state government said it would be introducing ICT skills in vocational institutes and also in primary and secondary schools across the state.
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