By Ogu Ihuaku
Port Harcourt,May, 23,2024
Emri Sanusi II of Kano on Thursday said that human capacity development woul be the best development for the economic growth of Nigeria.
Sanusi who is the Kenote speaker at the 2024 Rivers State Economic summit, said that to achieve development, it is imperative to recognise the need to take some specific steps that transient natural resources to diversify and institutionalise foundation of economic framework,
Sanusi said that Nigeria cannot depend only on oil to grow the economy and prosperity of the country.
“I have said it over again, if we are to take our all the oil that is under Nigeria soil, sell it and share the money among all Nigerians, we will be a lower income country. So, oil is a resource but not a enough to make us a wealthy country.
Sanusi said that to ensure properous future, It is the capacity of state institutions to ensure quality skills acquisition of the population to deliver critical results.
“Japan and Singapore does not have any mineral ,neither than Germany, Australia or Rwanda, to give a few examples.
“By no means can anybody compare the standard of living, life expectancy of any other developed benchmark in these countries. But most of the countries with natural minerals resources, such like Nigeria.
“Despite having abundance of mineral resources, countries like Russia, the UAE, Norway, etc have developed not only by those resources given to them by nature or providence but successful and deliberate vision to diversify through the quality of their governance institutions and people.
“Resources can be a blessing, and resources can be a curse, the choice is left to the leaders. Oil is not a curse , the curse is the leader we had the choice to make it a curse or a blessing. The choice that you made is yours.
Sanusi stated that human capital and good governance are why countries that are complex in their characteristics such as India, Brazil, China and the US have developed through innovation, intellectual property, education and strong public institutions.
“If we are serious about development, we had to stop expecting oil to do everything for us. Everyone in Nigeria now talk about investment, infrastructure and development, but few also consider that no investor will simply imply resources in the name of investment,
“Unless they see that the environment is prepared to accommodate their business, make it proper and protect it.
“Your roads and bridges will eventually decay and you have to either borrow or build news ones or become hopeless. But an easy environment and a skilled population economic have transformed and grow to mega cities.
“When ministers of work said they build roads of thousands kilometers of road,but 10,000 km of road from where to where and that is the key, yet farmers can still not get to their farms,
“Markets, cities are not link to each other, the hinterland is not linked to the coast, until we begin to think strategically about infrastructure, just building infrastructure itself alone will not bring development.
Sanusi said that Nigerian must invest in renewable energy, build a more power generation.
“This is to ensure sustainable and reliable energy sources driving industrial growth, especially with the current electricity act that empowers states to generate and distribute electricity,”Sanusi said.
In a remarks,the Deputy Governor of Rivers, Prof Ngozi Odu, said the summit was very reflective and transformative.
Odu thanked the Gov.Fubara for conceiving the idea, adding that he is a man of focus who put Rivers people first ahead of other issues in the state.
Odu said the essence of the summit was to attract investments, for economic growth, networking and collaboration, showcase opportunities that exists in the state, encourage innovation, and to boost tourism and hospitality.
“Because there are pools of investors here, we are ready to hit the ground running.
“The government of Rivers state is ready to partner with you in investment, This summit is not a talkshow but to reassure us that the government will ensure that in six months time we will have to tell ourselves how far we have grown in achieving a robust investment in the state,”Odu said.