Reviewing national economy using technical Approach

At the moment, Nigeria as a people doesn’t need a soothsayer to notify her that the country is deeply in need of a rethink in a bid to revamp the current pitiable physiognomy of the nation’s economy.


The present Nigerian economy is arguably dwindling, thus requires a serious and candid measure if the governments at all levels are genuinely prepared to deploy the needed political will towards salvaging it. However, it’s pertinent to acknowledge that the recommended measure cannot be successfully applied if we failed to employ tech-driven approach.


This implies that technology remains inevitable towards salvaging the country’s economic posture that currently bears a pathetic look. Development at any phase is always linked to technology and the latter takes place when there’s advancement in science. In other words, science, technology and development are all proportional to each other. It’s imperative to acknowledge that development is required in every individual as well as nation, in all aspects.


And for such effect to occur, science and technology must go hand-in-hand. Science is known as the study of knowledge, which is made into a system, and depends on analyzing and comprehending facts.


Technology is the application of this scientific knowledge. For any successful economy, particularly in present times, science and technology are the rudimentary requisites. If any nation fails to utilize these, then the chances of getting itself developed becomes minimal.

Technology is associated in all means with modernity, and it’s an essential tool for rapid development. Hence, any country that’s not able to prosper in this regard would never be able to sustain the lives within its jurisdiction and may have to solely depend on other countries for survival.


It was estimated by the World Bank that seven of the ten largest economies of the world by 2020 would be in Asia, including Japan, China, India, Indonesia, South-Korea, Thailand, and Taiwan. The economic prophesy eventually came to past. This is because the countries in question were able to leverage on the impact of technology on societal growth.


Just a few decades ago, most of these countries were known to have poor policies, low discipline and no advancement. But with an effective introduction of technology, they have succeeded in making waves all over the world. Nigeria obviously needs to emulate them.


Rather than begging them to come over and help us develop the country, let’s ascertain how they made it to the top, so we can apply same techniques without seeking for their assistance since we have all it takes to perform independently. The truth is that, the required manpower and resources abound in Nigeria.


What the government needs to do is to recognize the needed labour-force and the available endowments, then consequently endeavour to do the needful. They must be prepared to devote reasonable commitment, which is a product of time.

This is where political will comes in. You must be willing to sacrifice your time and energy to a cause you believe in, if you really want it to become an absolute success. Nigeria is ostensibly being taken aback by her leaders. If not, this country would have gone several steps ahead of where it is today.


If the government must do the right thing as expected, it has to revive all moribund technical colleges across the country, resuscitate the ongoing Students Industrial Work Experience Scheme (SIWES), adequately equip all the science-oriented departments in institutions of higher learning. Furthermore, teachers’ wages must invariably be taken very seriously.


These are the fundamental ways the country’s education sector can be strengthened. Similarly, the health sector, which is awash with outdated facilities, must equally be liberated by providing befitting structures and equipment that can stand the test of time.


The country is already blessed with countless health experts, but they lack the needed environment to showcase their expertise. Moreover, Nigeria lacks an industry where science and technology can thrive, thus she needs to create one by setting up an enabling environment that can accommodate every professional irrespective of their field or area of specialization. Owing to lack of such anticipated environment, the country loses hundreds of talents and patents on a daily basis via brain drain.


The government must be willing to assist anyone who has an idea, and not to abandon him or her to rot.


A reliable agency that can listen to people’s ideas and channel them to apt quarters ought to be set up by the governments at all levels.


For urgency’s sake, we must embrace the agric sector through implementation of mechanized farming instead of the ongoing crude pattern. As regards the mining sector, the concerned authority must extend hand of fellowship to the cognoscenti whom must be indigenous, towards acquiring efficient output.


The power sector cannot be addressed if we failed to supplement the existing hydro pattern with other such available generation sources as solar, wind, biomass, and coal.


The Tourism industry can equally be made more viable by inculcating tech measures in the system. Security, on its part, cannot be left out while discussing technology.


If the needed resources – both human and material – are eventually made available but aren’t well safeguarded, it would be efforts in futility in the long run. Among all, tax evasion can only be properly tackled if we employ adequate forensic techniques.


It’s not anymore news that countless establishments domiciled within the shores of the country have unabated dodged payment of taxes, yet nothing is being done about it, perhaps because the required mechanism to tackle the menace isn’t made available.


There’s no how we can solve Nigeria’s numerous economic crises without engaging technology. Even corruption, which remains the bane of the country’s democratic system, can’t be duly fought if we overlook tech techniques.


Someone who’s still sceptical that technical approach is the only method needed to revamp the Nigeria’s economy is unequivocally asleep, therefore needs to wake from the slumber. Think about it!




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