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Nigeria’s Economic Development – The Need for Industrialization.

My Presentation on Channels TV…..May, 2021

Nigeria’s Economic Development – The Need for Industrialization.

Total Export 2019.

Singapore……………………..US$645.6 Billion

Population: 5.7 Million, Land-Size: 728.6

Note: Lekki Peninsula, Lagos, Nigeria is

Sub-Saharan Africa……..US$428.2 Billion

Countries: 46 Population: 1.1 Billion Land-Size: 23.85 million

Nigeria……………………………US$69.93 Billion

Population: 200.96 Million Land-Size: 923,768

There is a critical need to Industrialize, but a greater need to understand the strategies of your competitors and those trying to put you out of business. To understand the present state of the Nigerian Economy we must go to the past and understand the roles of the Industrial Revolutions, the roles played by the most industrialized nations and how they have used Innovations, Efficiency, and Globalization to create a massive competitive advantage and take over most economies and that of Nigeria.

To understand the decline of the Naira against the US Dollar you must understand the roles and strategies of the Industrial Revolutions, only 10 countries of the world accounted for 65% of the total global GDP of US$87.7 Trillion, they are the most industrialized countries. There is no country that has attained greatness without industrialization, all industrialized countries boast of military might.

To become rich you must create value, these nations create value through manufacturing, they invest heavily in the critical success factors of Industrialization, Nigeria must industrialize to strengthen the naira, but to do that we must understand the strategies of the Western World and the most industrialized nations and how they took over our economy without firing a single bullet.

#romanoseghale, #industrialization, #Industrializationinnigeria, #industrialrevolution, #economicdevelopment, #IntelServeInc., #NigerianEconomy, #nigeriancurrency, #manufacturing#leadershipdevelopment, #Leadershipandadvancement, #governmentofnigeria.

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Presentation by Roman Oseghale at the ICAN 50th Anniversary, April, 2021.

As the world moves into the 4th Industrial Revolution which is expected to take efficiency to an unprecedented level in history driving down cost per unit and increasing competitive advantage for the advanced industrialized countries, having failed to benefit from the 1st and 2nd Industrial Revolutions, and only partially benefited from the 3rd, Nigeria and Africa are decades behind.

Data is the fuel of the 4th Industrial Revolution, without a comprehensive data base and a data driven economy, Nigeria will not be be able to benefit from the full potentials of the 4IR, advanced competition will continue to outperform the economy and will lead to further increased imports of goods and services unless there are drastic policies that are introduced to curb the situations.

#RomanOseghale, #ICAN50thanniversary, #4thIndustrialRevolution, #leadershipdevelopment, #AccountableLeadership, #InternetOfThings, #industrialinternetofthings, #NigerianEconomy