Knowledge, Productivity and Innovation in Nigeria : Creating a New Economy

Ismail Radwan

ISBN 10: 0821381962 / ISBN 13: 9780821381960

Published by World Bank Publications Mär 2010, 2010

About this Item

Neuware - Nigeria has a bold vision of becoming one of the top twenty economies in the world by the year 2020, as per its Nigeria Vision 2020 strategy. Although currently 8th in the world in terms of population, the country ranks 41st in terms of GDP and 161st in terms of GDP per capita. But Nigeria is also a powerhouse on the African continent by virtue of its size and its vast oil wealth.How can this enormous potential be realized and what policies are needed to achieve this ambitious dream of economic growth and prosperity The authors believe that the goal of becoming a top-twenty economy can only be achieved if Nigeria makes the transition to a new economy based on knowledge, productivity and innovation in order to be competitive in a 21st century context.Knowledge has always been central to development and nowadays is becoming truly global, accessible and democratic, through new technologies and means of communication. Countries such as Korea, India and the USA that can harness the power of new technologies nurture a cadre of knowledge workers that can push the productivity and innovation frontiers. Others that fail to do so remain mired in poverty.To achieve Vision 2020, Nigeria needs to move beyond the stop-start development patterns of an oil-based economy to create a stable and prosperous base for a 21st century society built on a critical mass of knowledge workers. How can Nigeria prepare for this century and which areas must focus on to achieve the vision of a new Nigeria This report seeks to answer these questions.

Seller Inventory # 9780821381960

Bibliographic Details

• Title: Knowledge, Productivity and Innovation in Nigeria : Creating a New Economy
• Publisher: World Bank Publications Mär 2010
• Publication Date: 2010
• Language: English
• ISBN 10: 0821381962
• ISBN 13: 9780821381960
• Binding: Taschenbuch
• Condition: Neu
• Dimensions: 228W x 151H x 17D millimeters 228 millimeters width by 151 millimeters height by 17 millimeters depth
• Weight: 304 grams

About this title

Synopsis

Nigeria has a bold national vision of becoming one of the world’s top 20 economies by 2020. However, despite being the 8th most populous country in the world, it ranks 41st in terms of GDP and 161st in terms of GDP per capita. Nigeria has long depended on oil for its exports and government revenues. This dependence has led to rent seeking and a reluctance to examine potential avenues for economic diversification. The authors of 'Knowledge, Productivity, and Innovation in Nigeria' believe that the goal of becoming a top-twenty economy can only be achieved if Nigeria makes the transition to a new economy rooted in the 21st century that harnesses the power of knowledge and avoids a static oil-based growth strategy. Knowledge has always been central to development, but new technologies have made it globally accessible. Countries such as the Republic of South Korea, India, and the United States that have exploited new technologies and know-how have pushed their innovation and productivity frontiers. Countries that have failed to do so risk remaining mired in poverty. In order to achieve Vision 2020, Nigeria must move beyond the stop-start patterns of oil-based development that have characterized it since independence. It must create a stable and prosperous economy based on a critical mass of knowledge workers. Knowledge, Productivity, and Innovation in Nigeria examines how Nigeria can prepare for this century and where its leaders can focus to achieve their vision, presenting the experiences of other countries from which Nigeria can learn.