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Economic Growth: BOI Calls For Technology Development

Artificial intelligence

So that Nigeria would sustain its present economic growth, the Bank of Industry (BOI) has stated that the nation must seek ways to develop and address its technological needs to catch up with the rest of the world.

‎According to the Managing Director, BOI, Rasheed Olaoluwa, there is a direct relationship between technology and development. He maintained that to achieve an accelerated economic growth‎, Nigeria must pay serious and urgent attention to technology in order to maintain its leadership position in terms of economic growth.

‎The BOI boss disclosed this recently while receiving delegates from the Nigerian Academy of Engineers, noting that  the rest of the ‎world was moving very rapidly in terms of technology where there are lots of things happening in robotics, customising medicine for individuals according to their genetic composition.

‎”Lots of technology advancements are happening in artificial integlligence, there is a lot happening in semi conductors, micro chips and even ligtings. These are all development in terms of technology  which helps in making work more efficient, reducing cost and generally making life better,” he said.

“We at BOI believe that there is a need to rethink our strategy for development. We have been pursuing technology transfer for far too long ‎ and it has not given us sufficient amount of result because no country will willingly give you their technology. We need to build our own crop if scirntists and engineers that will be well supported to come out with theit own bright ideas and innovation,” he added.

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