WHY THE SUMMIT?
Nigeria is the most populous country in Africa with the largest economy and enormous potential to her credit. But regrettably, the country functions below expectations in terms of human, infrastructural, and economic development.
Besides, Nigeria is ravaged by concurrent challenges ranging from the insurgency and herdsmen crisis in the North to kidnappings in the South and resurgent militant activities in the Niger Delta, ever than at any other time in history, which birth the fissures and agitations from her regions.
Despite Nigeria’s huge potentials, she suffers numerous challenges and deficiencies in raising young leaders who are embodiments of creativity and solutions to our national challenges. The country has a lot to offer, but her citizens have little or no expectations from their leaders, as a result of consistent leadership failure.
However, it is now imperative to stir conversations with citizens and leaders that will produce a complete run down for a better Nigeria. There’s a need to understand our history to fix our present, initiate the process for an enviable future, and ensure Nigeria takes her topmost place in Africa and the world.
The world today is driven by knowledge, but the Nigerian political leadership is still fixated on how to further share crude oil rents. Nigeria has tried, but failed to build a stable economy driven by the sale driven of an unstable commodity, without any value addition and human capacity development.
The pointers indicate that crude oil prices will remain unstable and low over the long term as the commodity is under attack, for the first time in its history, from both the demand and supply side; the shift to renewable sources of energy and away from the combustion engine for vehicle propulsion means demand will weaken over the long term, while the increasing efficiency of shale production means that the product will continue to flood the market keeping prices low going forward.
Out of the five most capitalized companies in the world, four are ICT companies with a combined market capitalization of over USD2trillion. At about the time when KODAK, the inventor of modern photography was filing for bankruptcy, INSTAGRAM, a photo sharing application was being bought over for USD1billion and a subject of tussle among two of the giants of the industry. The world will continue to be driven by knowledge and ICT and Nigeria must intensify her human capacity building to compete effectively in a globalized world scene.