{"id":86382,"date":"2021-09-25T12:39:15","date_gmt":"2021-09-25T11:39:15","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=86382"},"modified":"2021-09-25T12:39:15","modified_gmt":"2021-09-25T11:39:15","slug":"nigeria-needs-a-knowledge-based-economy-to-overcome-poverty-says-sanusi","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2021\/09\/25\/nigeria-needs-a-knowledge-based-economy-to-overcome-poverty-says-sanusi\/","title":{"rendered":"Nigeria needs a knowledge-based economy to overcome poverty, says Sanusi"},"content":{"rendered":"

Former Emir of Kano, Muhammadu Sanusi II has disclosed that the country must have a knowledge-based economy to overcome poverty.<\/p>\n

This disclosure was made on Friday by the former CBN governor while speaking at the Kaduna Investment Summit, tagged KadInvest 6.0.<\/p>\n

Sanusi said rather than prioritising infrastructure, Kaduna and Nigeria must enhance the intellectual capacity of its people.<\/p>\n

The former Central Bank of Nigeria (CBN)<\/a> governor said Nigerians have not been putting technology to use, and that it is the reason why the country\u2019s gross domestic product (GDP) is not on the rise.<\/p>\n

\u201cYou have countries and their per capita GDP, you have resource countries and knowledge economies. On the horizontal axis, we have the knowledge intensity. As knowledge increases so does the GDP,\u201d he said.<\/p>\n

\u201cLook at rich countries like Saudi Arabia, look at Kuwait, we consider these very rich countries and that\u2019s where they are on capita GDP. Now compare Saudi Arabia to Singapore or to Finland or Switzerland or the US.<\/p>\n

\u201cWe all think Saudi Arabia is richer than UAE but look at the per capita income. The UAE is further down on the knowledge index; they are at 58 whereas Saudi is at 44.<\/p>\n

\u201cAs you increase the knowledge intensity of the economy, as you rely more on human capital, as you rely more on intellectual capacity, you reduce poverty and increase per capita income, that is what you need to do.<\/p>\n

\u201cIf you look at these Almajiri kids as potential raw material that could be trained, teach them to code, put them into this global value chain and let them start earning income in dollars, you transform their lives.\u201d<\/p>\n

Sanusi said some of the policies being put in place in Kaduna<\/a> must be sustained by successive administrations to ensure the developmental growth of the state.<\/p>\n

\u201cMy prayer is that after you finish your term, whoever succeeds will build on what has been done because it is very easy for all the work that has been done in years to be destroyed in one day,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Former Emir of Kano, Muhammadu Sanusi II has disclosed that the country must have a knowledge-based economy to overcome poverty. This disclosure was made on Friday by the former CBN governor while speaking at the Kaduna Investment Summit, tagged KadInvest 6.0. Sanusi said rather than prioritising infrastructure, Kaduna and Nigeria must enhance the intellectual capacity […]<\/p>\n","protected":false},"author":17,"featured_media":48372,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[2],"tags":[1172,5786,503,11269],"class_list":["post-86382","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-central-bank-of-nigeria","tag-gdp","tag-kaduna","tag-sanusi-lamido-sanusi"],"yoast_head":"\nNigeria needs a knowledge-based economy to overcome poverty, says Sanusi<\/title>\n<meta name=\"description\" content=\"Former Emir of Kano, Muhammadu Sanusi II has disclosed that the country must have a knowledge-based economy to overcome poverty.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2021\/09\/25\/nigeria-needs-a-knowledge-based-economy-to-overcome-poverty-says-sanusi\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigeria needs a knowledge-based economy to overcome poverty, says Sanusi\" \/>\n<meta property=\"og:description\" content=\"Former Emir of Kano, Muhammadu Sanusi II has disclosed that the country must have a knowledge-based economy to overcome poverty. 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