Former governor of the Central Bank of Nigeria (CBN), Professor Charles Soludo, says it is important for Nigeria to be innovative and remain relevant.
He explained that this was necessary for the country to remain relevant among the comity of nations, noting the signing of the African Continental Free Trade Agreement (AFCFTA).
Soludo said while giving a speech at The Platform, an annual programme organised by the Covenant Christian Centre.
“The implication (of the signing) is that insularity will no longer be an option; the name of the game of the future in an increasingly integrated world is innovate, compete or die,” he said.
He noted that the world was already on the fourth industrial revolution with the digital economy while Nigeria was struggling with the basic stages of growth.
“While electric cars are fast replacing diesel and petrol cars, many of our people are still building petrol stations.
“The ordinary people who can’t explain what has hit them resort to all sorts of criminal activities to survive. Economic structuring will entail thinking through the alternative scenarios and mapping out to alternative possible proactive responses,” the former CBN boss added.