Why a Knowledge Driven Nigerian Economy?
The concept of the “knowledge driven economy” (KDE) or “the new economy” is used to describe an economy in which the generation and the exploitation of knowledge has come to play the predominant part in the creation of wealth. It is about the more effective use of all types of knowledge and creativity in all manner of economic activity. Nigeria has probably taken care of the greatest political hurdle facing it since independence by putting in place a democratically elected government. However, the time is now ripe to shift emphasis onto something equally important. To bring lasting peace, economic freedom and prosperity to its people and help tackle the long term problems posed by ethnic rivalry and tribal clashes, Nigeria needs a change of direction. But not only that. The forces of change outside Nigeria are driving the need for change within it. Therefore, to maintain itself on a par with the rest of the world, and to be able to compete successfully in the fast moving world economy,
