One must commend the efforts of many of our economists who have applied all known theories to revive Nigeria’s economy. Nigeria, like many African countries, has had an overdose of textbook economics, which advocates economic development based purely on monetary and fiscal policies. But we have deliberately ignored technology as the primary means of sustainable development.

Nigeria has far too long believed that our economic survival lies in the theoretical manipulations of intangibles such as exchange rate, interest rate, etc. as opposed to the practical production of tangibles. In fact, an emeritus professor of economics once told me that “Nigeria has over-concentrated on the theoretical aspects of economics and occasionally got carried away with Adam Smith’s philosophies in his book Wealth of Nations, which are more than 300 years old, that we forget the practical aspect of economics, which is production