As we just saw in our hidden economics, love can be the seventh wave that helps in speeding and completing the transformation of Nigeria into a true global economic power. With love, the country will push for everyone to be able to contribute. No one will be left behind. This means that the leadership at the center, that is, in Abuja, must help to provide an enabling environment in communities throughout the country for private enterprise to be the key platform in building home grown development strategies. As I said last time, at the Economic and Business Strategies, (EBS) we have developed a refined economic development (RED) in Africa strategy that recognizes community economic competitiveness as the foundation for a stronger pace of growth and sustainable development among African countries. In Nigeria and much of Africa, the public sector is too fat and too heavy for economic progress. The public sector in Africa must lose weight if it is to be strong, quick and nimble in paddling through the murky waters of underdevelopment. As Governor Peter Obi has said, we have to cut waste and build skills for a stronger private sector throughout the country. We now have development strategies that can speed community economic competitiveness. Like Shenzhen in China, the small communities in Africa can also become national and regional growth poles if appropriate policies are designed and adopted. Before 1979, Shenzhen was a small fishing village of not more than 30,000 people. Shenzhen is now considered one of the fastest-growing cities in the world, having received tens of billions of dollars in investments from Chinese and foreign investors. Folks, community economic development and competitiveness is the answer for job creation and therefore inclusive growth in Africa. We have to understand this. I am Magnus Kpakol and that's my view.
Posted: Dec 16th, 2014 @ 08:28:13 AM