‘Why Nigeria’s per capita income will remain at $2,144’

Oby Ezekwesili

Except Nigeria develops its human capital anchored on real values, its pr capita income would remain at $2,144 even without considering that the country has exported oil for the past 52 years.

Co-founder of Transparency International (TI), Oby Ezekwesili, said this yesterday at the Brand Innovation Conference 2017 while speaking on Beyond the Age of Oil: Finding Growth Opportunities in Diversification.

She said if Nigeria, with a population close to 200 million people, continues on the part of distorted values, it would be difficult to measure up with developments in other countries such as Singapore.

She noted that Singapore went through similar experience of underdevelopment, as it once had a low GDP, but with focused leaders who branded its economy by building solid human capital development, the country achieved a strong economy.

Ezekwesili said Nigeria need not fix its reputation before investors are attracted to the country, noting that the drivers of economic growth and development were sound policies and strong institutions anchored on credibility.

“To achieve a strong economic base, our resources must be invested in an efficient and effective manner. What is important is the trend that is best is for us to unravel the existing progress so that the aspect of branding for a strong institution would be achieved.

“Rebranding is as a result of the work we do as a people in government, in the private sector, and in civil society. “I’m really excited at the prospects that Africa and Nigeria have. The fourth industrial revenue presents us an opportunity to search ourselves from a different perspective of our human capacity.

Former Governor of Cross River, Liyel Imoke, said tourism and hospitality present huge benefits for the country, noting that when fully harnessed, the industries could grow the country’s economy and increase its GPD significantly.

Speaking, Prof Pat Utomi, pointed out that there was the need for a quantum leap in value creation to be able create the needed jobs. True entrepreneurs, Utomi said were not driven by money but the desire to bring about change in a very fundamental way, adding that Nigeria should be growing at double digit rate if it wants to go forward, as growth was a function of value creation.

While speaking on From Local to Global: Harnessing Growth Opportunities Through Brand Export, the panelists emphasised the need to change the narrative and support government’s efforts in the rebranding process.Chief Marketing Officer of Dangote Group, Oare Ojeikere expressed concerns over the opportunities the country had failed to explore, adding, “As we think exporting, what do we think about bringing to brand Nigeria?”