Oyeyinka harps on technological advancement for Nigeria's growth
By Bernadette Idalu
Professor Banji Oyelaran-Oyeyinka,
Senior Special Adviser to the President on Industrialization, African Development Bank (AfDB) has stated that for Nigeria to have its pride of place in the committee of nations it should focus on technological advancement and food production.
Taking this stand when he presented a keynote address, “Seven Governance Challenges causing Nigeria’s Economic Laggardness” during his investiture as a Fellow of the Nigerian Society of Chemical Engineers, an event which took place November 11, 2022, whose theme was, "Rejuvenation of the Nigerian Industrial Sector," Oyeyinka stated that for growth to take place in a country there must be a state capacity and industrial capabilities in development.
He said despite government putting these structures in place, over fifty years ago, the increasing demand for, and government policy of self sufficiency in food production seems not to have paid off despite interventions put in place
Citing the establishment of companies such as the first fertilizer firm in Nigeria- the Federal Superphosphate Fertilizer Company (FSFC), Limited, Kaduna, establishment of one hundred and eighty (180) textile companies which employed about one million people with the strategic plan for pulp and paper production for domestic and export markets, by the Nigerian government, he pointed out that
these plants have since ceased to exist.
"These factories did not break even, not to talk of reinvesting their surplus cash and profit in the acquisition of technological capabilities and skills required to adapt, operate, and maintain the imported technology in use. Within ten years, eighty (80%) percent of trained technical staff of FSFC had left.
"The same fate befell Ajaokuta and Aladja Steel complexes, Nigeria’s Aluminium Company, Aluminium Smelter Company of Nigeria (ALSCON) and several state-owned projects. All are moribund."
He noted that the reason for the fold up of these establishments include low plant availability due to a priori poor technical preparation during the investment processes. Other factors include project and financial mismanagement, vested interest and weak bureaucratic capacity.
To overcome identified setback he listed the adoption of three principles, "First, industrial technological capability mastery is a critical factor of success. Nations and firms accumulate this through continuous technological efforts over a long time.
"Second, it is also clear that technological knowledge is not easily absorbed, imitated or transferred contrary to conventional wisdom. No nation is willing to give another, science and technologies that made them rich. A nation must be deliberate and make explicit investment in acquiring the wide range of technical expertise required in all cycles of the project life. These include the capacity acquisition right from prefeasibility, investment, operation and maintenance and so on.
"Third, specialized human capital does not consist only theoretical knowledge; a nation must engage in learning by production, learning by maintenance and learning to innovate by its own citizens."
The keynote speaker affirmed that, " There is a strong connection of science, technology and engineering in any nation’s quest for national security, food security and health sovereignty."
Quoting from available data he mentioned, "A study of ‘growth miracles’ by the World Bank in 2008, in which only thirteen (13) countries in the world have been able to sustain an annual growth rate of seven percent (7%) or higher since 1950. Only two countries, both with small populations and highly idiosyncratic economic structures –Botswana and Oman are among the group of 13 that have not grown because of industrialization
"Additionally, countries and regions that have de-industrialized or prematurely de-industrialized have experienced a slowdown in economic growth or, at worst, declining economic growth. The faster the rate of manufacturing the faster the rate of economic growth (Kaldor’s Law)."
He called on people of goodwill to put their hands on deck as a great Nigeria is possible. "Let it begin in our hearts and in our professing today. We have no other country."
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