The world is moving fast and Africa especially Nigeria needs to find a way to move with it. Most African countries look up to Nigeria.
In Nigeria
We need to find a way to bring a Silicon valley kind of businesses in the technology space, co-owned and funded by the state and private sector and run by private sector, business expected to grow into giant like Google of US and Baidu, WeChat of China.
We need to export non raw material product by creating powerful brands and businesses for our mineral resources. So that instead of just exporting raw Gold, we have a brand the export the best quality gold wrist watch and jewelry. Thereby making 3x and more the revenue from raw gold. The same applies to Magnesium, diamond etc
We need to solve the power problem, as a matter of urgency this very important. As small and medium businesses can thrive easily with steady power supply.
We need to ban importation of cars and make it mandatory that cars sold in Nigeria must be assembled in Nigeria.
Before that we need to have ease the tax imposed on local and foreign manufacturers, mandate them to assemble their cars locally.
Issue license to foreign businesses to come and establish car assembly plant, produce their cars in the country with Nigerian specification, thereby fueling competition & Innovation. Make it mandatory for these companies to sponsor the indigenous people in education abroad and employ them among the top tier employee level.
By
Augustus Nwangwu