Vice President Yemi Osinbajo has commended Governor Nasir El-Rufai and members of Kaduna State Executive Council for the rigour in policy formulation and implementation that have characterized his administration, describing them as what is achievable in a subnational and national governments.
Professor Osinbajo also praised Kaduna state for consistently holding the annual Kaduna Investment and Economic Summit (KADINVEST) and over time, the event has become a platform of not just marketing the state but Nigeria as an investment destination.
According to him, the yearly event has been consistently held from the maiden edition of KADINVEST in 2016, with the theme, ‘‘Let’s Move Kaduna into the Global Economy,’’ to the second edition which was about “Making Kaduna the Investment Destination of Choice”, to the third edition which focused on ‘’Partnership for Development” and the fourth edition of the summit which focused on ‘’Expanding Investment Frontiers”, including last year’s edition which held during the Covid-19 pandemic with the theme ’Infrastructure, Industrialization and Innovation’’
The Vice President who was Special Guest at the KADINVEST 6.0, said that a well-developed and nurtured human capital is the surest way to Nigeria’s economic growth.
Speaking on this year’s theme which is ‘’Towards a Sustainable Knowledge-based Economy’’, the vice president said Nigeria needs to develop human capital to become productive assets that can be sold for profit across the world.
Osinbajo said that rather than natural resources, well developed and nurtured human capital has become an invaluable asset as ICT and technology now rule the world.
“The focus today must be developing a knowledge-based economy. The knowledge-based economy referred to stands for human capital development. Education and knowledge can become productive assets to be sold for profit rather than natural resources,’’ he said.
According to Osinbajo, digital data, digital solutions to improve agricultural yields and digital platforms to provide online study are some examples of how a knowledge based economy can improved the quality of life.
‘’Millions of data in terabytes are stored in chips; 1,000 megawatts of power can be stored in a battery. The future of financial technology is not in banks. Nigeria is becoming technology investment solution hub in sub-Sahara Africa,’’ he added.
The vice president also said that the Buhari administration is committed to building infrastructure across the country, from the Ajaokuta-Kaduna-Kano gas pipeline which will power industries in Kaduna state, to the Abuja-Kaduna-Kano expressway which will ease the movement of goods and people.
According to him, these investments by the federal government which are being complemented by Kaduna State Government, will galvanise investment hubs that will improve the wellbeing of the people.