Former Governor of Anambra State Mr Peter Obi, on Friday in Yenagoa proffered panacea for Nigeria and Africa to overcome its economic challenges.
Obi made the recommendations while speaking at the ongoing 2018 African SME Round Table Forum holding at the Azaiki Library in Yenagoa..
According to Obi, Nigeria and Africa required huge investment in education and skill acquisition, as well as meaningful support for Small and Medium – scale Enterprises (SMEs).
He said Nigeria must focus on investing in education and skill acquisition in order to turn round its economy, and drastically reduce the levels of youth unemployment.
The former Governor, maintained that Nigeria must see education and skill acquisition as an investment, as this would help to diversify and grow the country’ s economy.
Obi noted that from the discussions, it was evident that there are large opportunities in Africa, “but to achieve these, Africa requires huge investment in education and skill acquisition.
According to him supporting SMEs will help build a prosperous future for Nigerians and Africans at large.
“For Africa to transit from exporter of raw commodities to a manufacturer of finished goods, and become a significant member of the global technological world her people must be educated.
“For China to be one of the best economy in the world today, is education and skill acquisition programmes.
“Young people must invest wisely, for them to create wealth and job for others. The problem of Africa depends on the youths,” he said.
In his remark, the Special Adviser to the Governor on Trade and Investment, Mr Stephen Akake, said the SMEs remained the engine of development as its impact affects the people directly.
He said the Bayelsa government has created micro finance bank to help business oriented individuals to borrow money for business at concessionary interest rates..
Akake observed that with the support enjoyed by SMEs in Bayelsa, the sector is fast developing Africa to be an attractive investment destination capable of attracting direct foreign investment.