Fayemi, Obi advocate knowledge-based economy

As the need to diversify the nation’s economy from oil revenue continue to dominate public discourse, Governors Kayode Fayemi of Ekiti State and Peter Obi of Anambra State on Friday advocated for knowledge-based economy if the country wishes to make the desired difference.
The governors described the present over-reliance on oil revenue as a resource-based economy, which they said was not sustainable in view of the vagaries of the international market and the growing discoveries of alternatives to oil.
At the Executive Session of the ongoing Ninth All Nigerian Editors’ Conference in Asaba, Delta State, with the theme: “Nigeria beyond Oil: The Role of the Editor”, Fayemi stated that though Nigeria has benefitted a lot from oil revenue, this has however brought about complacency on the part of both the leaders and the followers.
He said: “Most people have almost come to the conclusion that oil has become a curse rather than a blessing.
“I beg to disagree with that because we can point to a lot of things we have achieved with oil wealth but we have also developed a culture of complacency.”
Fayemi stated that the nation would survive should oil dry up, adding however that the manner of survival should of great concern to all stakeholders.
According to Fayemi, the nation must power the education sector in order to sustain agriculture, manufacturing, industrialisation and tourism among other sectors to which the nation intends to diversify.
On his part, Governor Obi also said the nation would survive without oil.
He argued: “If you remove oil, you have real entrepreneurship.”
He said it was only through this the nation could build a strong and virile economy capable of creating jobs and enhancing standard of living.
Obi insisted that oil was the nation’s problem as it has brought about gross inefficient management of resources in the public sector.
Sun.