The economics perspective of Africa technology
Technology is a fundamental influencer of our day to day activities. The importance of technology in our daily routine can’t be overemphasized. When we need to move from a destination to the other, technology is required; when we need to press our cloths, communicate with others, fly to the other side of the world; technology is a must. Even in businesses, a company that will not keep pace with the ever increasing technology advancement of our time, will soon be forced out.
I have made some observation in my locality, I’m a Nigerian, it’s obvious that our technology backwardness is overwhelming not to talk of our weak educational system.
Here is my observation: I noticed that most adults within the ages if 30 and above, 70% of them perhaps, couldn’t load a recharge card on a mobile device. This is so pathetic and disgusting.
It’s better we move with the cloud, every country is moving. Advanced nations such as: US, China are thinking in an unprecedented realm of technology. Their mind have been racing from driverless cars to flying cars, and robots replacing/supporting humans in workplace and some other super human technological projects.
Apparently, Africa have suffered from unstable and bad rulerships which has led to incessant policies summersaults over the years. However, the repentance that we need is in you and I. We’ve long waited for our rulers to pull us out of the fire. No more waiting. There is a gift or talent in we all that can be stirred up with the stirring rod of improvements coupled with determination.
Human capital is the asset that this continent needs. Nigeria is one of the populous nations in the world. Quantitative population rather than qualitative population is a waste. Pool of uneducated populations holds little or no value to the country.
I strongly believe that if we can get it right in the area of technology, we’re not far from emerging as one of the world economic power house. Technology remains an integral factor of our economic growth. I can support this with Adam’s Smith, theory of economic growth. I remembered I came across this in my studies during my university days, technology is one of the most critical factor that drives economic growth according to the economics’ father.
Our comparative advantages improves with a rise in our technological power. This will boost a positive and favourable balance of payment (B.O.P) which will later translate into economic growth and development when adequately utilized.