The Export Brief The Export Brief 2 | Page 58

Another sector which is key to driving socio-economic development in Nigeria – the academic sector – seems unable to bring itself to truly play the role of driving innovation in the country. As a result, creation of new competitive jobs in the non-oil sectors in Nigeria remains low, the informal sector continues to expand, major infrastructure deficits persist at all levels in the country, poor governance and a dodgy approach to policy making and implementation continue to undermine even the best efforts and most ambitious investment plans in Nigeria. These are the real issues that impede our ability to play a leading role in the global economic space and the urgent need to address them cannot be overstated. Back to basics When Nigeria gained independence from its colonial masters (Britain) in 1960, we inherited an economy that was relatively strong but undiversified. The economy created by the colonialists was based on exporting raw materials (mostly agricultural produce) to Europe while importing finished goods from it. This was understandable as the British were here to suit their own economic purpose. However, even though industrialization was largely discouraged, they did lay down the rudimentary foundations for a modern Nigerian economy. Considerable emphasis was placed on research and extension services – during the period of colonial rule, the Botanical research station was established in Lagos by Sir Claude MacDonald in 1893, among other investments in research facilities and programs mostly in Western Nigeria; infrastructure – ports and railways – was built to support the export/import trade and educational institutions were built to transfer knowledge to locals. Those old enough to remember the ―good old days‖ tell tales of a country where graduates did not have to go looking for jobs – they had jobs waiting for them upon graduation. The template for a functional, high-growth economy was in place with a ports infrastructure that supported coca, grain and nut exports in the west and north; coal exports from Port Harcourt (carted all the way from coal mines in Enugu by rail) and the Calabar port was essentially a trading hub for most of West Africa. The nation had all the makings of a potential global economic giant. Unfortunately, there was no manual to work with. Since independence to date however, successive administrations have managed to transform the nation into a poster-child for ―how not to grow an economy‖. Through a cocktail of irresponsible policies, short-sighted implementation plans driven by narrow-mindedness and sentimentalism, deliberate weakening of institutions, these ―leaders‖ created a Nigerian economy that despite being the