Open Letter to Dr. Akinwumi Adesina: African Development Bank

Emphatically, time’s heuristically changed the norm of following the most cost-effective route when adopting a solution, to a new dawn of following a most sustainable-effective route which is most-possibly achieved on the heels of technology. In other words, technology is now, more or less, the only hope of meeting the compulsory demands of sustainable development as established by the tenets of Sustainable Development Goal (SDG), set to commence under the leadership of president-elect of the   African Development Bank, Dr. Akinwumi Adesina come September 1, 2015. As such, the establishment of The Bank of Technology’– a Financial Development Institution- most practically  poses to be our best attempt (most diligent and intelligent  effort )in creating and managing the expected sustainable development the world (UN) is waiting to see of  us(Africa, particularly Nigeria).”

While we, as a nation, may yet be actively or passively basking in the reverie of political unsettled hot air of the recently concluded election that culminated into the amazing sunshine moment of Nigeria’s ace technocrat who honourably put our beloved country on the top of Africa’s and the  world’s map again a few months ago, following his victorious emergence as the 8TH president of the African Development Bank; It was even more lifting in our hearts, reading his very recent published story titled, “My Personal Experience” as he again drove-in the nail of his selfless passion to change the lives of hundreds of millions, recounting his very humble childhood as the reality that continually pushes him to the limit of undertaking leadership position that affords him an ample position to take people(particularly youth and women- the strength of any economy and population) from grass to grace.

Albeit his emergence was no surprise to many following his fleet and calibre of endorsement at home and abroad, not to make mention of the new president of Nigeria, Gen. Buhari’s, who from onset has an A-list legacy of strictly supporting persons of integrity particularly  based on merit. His excellency, though not so fond of it, copiously sent his token of encomium and support at the candidacy level of former minister of Agriculture and Rural Development, emphasizing the truthfulness of his vote as merely not owed to factor of patriotism but that the proven track record in career rightfully predates our indigenous leader, globally respected in the development community, for the mega position at the African Development Bank – even as he diligently and undoubtedly demonstrated while a minister under the administration of the immediate past president of the country, Goodluck Jonathan. .

Notably, in an prominent interview- many and my humble self believe(d) earned the political and diplomat gentle-man the number one position at the African Development Bank- granted to The Guardian, he cogently and intelligently laid out his five strategic prioritized for the African continent: integrate infrastructure; private sector growth; creating job for youths and women; reviving the rural economy; and regional integration of for shared prosperity. All of which, he promised would be diligently projected and propelled to lift millions out of poverty.

However, the question as to whether this five pronged strategy of the 2014 Anti-corruption Man of the year will, at the end of the day, lead to an overall positive economic shift of our continent may be justified if we take a moment to remind ourselves of some of the effective Transformation Program he pioneered during his tenure as the Minister of Agriculture and Rural Development,. Accordingly, it was estimated that food production increased to 21 million metric tons by virtue of his ability to use technology in resolving the decades-long riddle of corruption, lack of accountability and other general irregularities that infested and infected our agricultural sector with all manner of worms that were increasingly decomposing our economy at large.

Undeniably, the veneration to technology the 2013 Forbes Africa Person of the year- the first public sector minister in Africa to win the award- creatively and effectively exemplifies when buying-into or putting out a solution cannot be undermined. For example, the e-wallet system he smartly adopted in mopping-up and rejuvenating the nation’s agricultural and rural sector by enabling farmers have access to subsidized farm inputs like seeds, fertilizer, agro-chemicals, loans, insurance, heavy farm machinery like tractors and extension services swiftly and sustainably via mobile phone is nothing short of an impeccable piece of brilliancy and ingenuity anchored on technology.

Prospectively, with Millennial Development Goal (MDG winding up to its expiration later this year and the United Nations set to roll out a new windmill Development Goals themed ‘Sustainable Development Goal (SDG)’to succeed and escalate the legacy of the soon becoming formal development goals, the call and measure taken towards sustainable development- majorly achievable via technology adoption and exploration – just got higher and tougher. Thus, globally yielding to the prioritization of the Least Developed Countries, mostly found on the south of the world’s map, Africa.

Comparatively, the gargantuan technology deficit predominant in these Least Developed Countries –majority of which make the African continent, Nigeria in particular – and our hope in the attainment of sustainable development is more or less farfetched considering over 70% technology shortage we are snared in. This has resultantly place a strong call for the implementation of a robust technology program that are indeed geared towards alleviating poverty in the lives of millions. In other words, a lot more work need to be done in establishing and strengthening the technology quadrant of the economy sphere. This, in fact, has prompted me to write this open letter as a token of contribution and solidarity in the good works set ahead of the 2014 Most Transparent and Accountable Minister by Foundation for Transparency and Accountability come September 1, 2015 in Abidjan when he will be taking over from the outgoing president, Donald Kaberuka.

Bank of Technology: With the long establishment of the development financing institution like the Bank of Industry Limited (BOI), Nigeria’s oldest, largest and most successful of its kind which was reconstructed in 2001 out of the Nigerian Industrial Development Bank (NIDB) Limited incorporated in 1964, the message is clear on how Development Banks are agent of transformation on directed sectors of the economy bearing in mind that  the bank took off with an authorized share capital of N2 million (GBP)in 1964 and  now has an  increased amount of N250 billion  from  N50 billion it was previous set  years ago. This was done in order to put the bank in a better position develop our economy by addressing the rising challenge of our nation’s economy.

Similarly, the Bank of Agriculture (BOA) Limited, incorporated as Nigerian Agricultural Bank (NAB) in 1973 is Nigeria’s premier agricultural and rural development finance institution, was equally reenergize via recapitalization in 2010 by ex-president Goodluck administration for the righteous purpose of repositioning our economy unto an effective and sustainable development, culminated into the change of the its name to Bank of Agriculture Limited (BOA). Accordingly the financial development institution was restructure and reformed,  with its shared capital toned up to N50billion, in attempt to ameliorate the critical nature of the agriculture to our national and general economic growth and development.

In the same vein, The Infrastructure Bank Plc established in 1992 formerly known as Urban Development Bank of Nigeria Plc has its authorized share capital increased to N3.1 billion, as of 2012, in a bid to reposition itself to bring greater impact to bear on the nation’s infrastructural development sector in subsequent years. The Nigeria’s dedicated infrastructure bank, seeks to redress its infrastructural deficit if its goal of joining the league of the world’s top 20 industrialized nations by year 2020 is to be achieved.

With the remainder of success these few exemplary financial development institution, Bank of Agriculture, The Infrastructure Bank, Bank of Industry, and their role in creating economic development and growth in our nation; would it be anything short of an act of wisdom to establish a Bank of Technology bearing in mind Technology is the mother of sustainable development in our today’s environment?

Tough not so encouraging, The Infrastructure Bank supposedly prioritized ahead others is left at the bottom with its shared capital seriously poor when compared to others. More pathetically, the resource used in the implementation of technology infrastructure is being cobbled together out of the existing budget of the paltry shared capital which has inevitably making funds inadequate to (re)energize the technology sector of the economy.

In addition, the optimum performance of the Infrastructure Bank is more impaired by the lumped-up and blurry chunk of the responsibility of; providing financial solutions to support key long term infrastructure (technology) projects in the capacity of transportation infrastructure, municipal common services, mass housing and district development, solid waste management and water provision, and power and renewable energy project, the bank cohesively undertakes altogether. Apparently, technology hasn’t been diligently and duly realized as an indispensable requirement in achieving sustainable development.

The establishment of the exemplified  aforementioned Development Financing Institution (DFI) -a type of bank), was deemed fit on the factual basis that puts them as a top of mountain of  solution,  If one is to achieve the desired development for growth in the directed sectors and the  nation’s economy in general. As such, the established of Bank of Technology (BOT) Limited which may be hitherto maybe called Development Bank of Technology (DBT) or Investment Bank of Technology (IBT) is overly due, if our nation and continent is to navigate the ship of her  economy on the right track and the required pace for its full recovery and revitalization.

Roles of the Bank: Like any other Development Financing Institution, established nationally or regionally to provide medium-and long- term capital for productive investment and often heralded by technical assistance in Least Developed countries like African counties, the roles and responsibility of the proposed Bank of Technology may not be necessarily different but dedicated or specialized on technology infrastructures that’s tailored to African continent.

Expectedly, the bank would: work diligently to provide innovative financing instruments and private equity funds toward technology business or investment in Africa ; pioneer several innovative policy and finance initiatives that will leverage robust shared capital in bank finance commitments towards Africa’s technology sector; promote effort that will increase the market capacity of developing countries to export new technology to presently classified developed   countries; successfully  establish Technology investment as having great returns particularly in the African continent; harness targeted oversees aids (monetarily) and push for political conditions that favors the business of technology; Spearhead  subsidy programs that would adequately provide technology resources easy, quick, effectively and  at low-cost; make diligent and intelligent efforts to leverage domestic bank finance for the provision technology ; initiate and uphold programs geared to promote value-chain approach that will improve the linkages in the sectors of the economy and opened it up to vibrant business activity; Manage technology  development so that all of the money and investment for technology  becomes attracted into Africa as a source of revenue; create and follow an approach would feature specific interventions for technology as a priority via the engagement of domestic, regional and international partners; Guide the continual  funneling of funds to priority areas of technology; prioritize infrastructure(technology) projects that help deliver bare-minimum technology for all; Initiate and Fund projects that place emphasis on clean and renewable energy or green energy – solar, hydropower, geothermal, wind; sponsor technologies and global scientific research; Establish  a combination of large, transformative regional power projects and smaller projects that can be executed more quickly and deliver immediate impact for local communities of our continent ; work hand in hand with  financial intermediaries needed to deliver affordable financing to African companies, especially small- and mid-sized companies (SMEs); Mobilize domestic resources – pension, sovereign wealth, and diaspora funds – towards technology to further achieve the continent’s development goals. After all, Africa has $158 billion in sovereign wealth funds alone; prioritize blended financing to reduce risk exposure to the private sector; work with governments to lower the cost of doing business across Africa; focus on unlocking technology potential that will go a long way toward diversification and building “technology wealth” rather than relying on agriculture, oil and mineral wealth that are the verge of transformation under the likes  Buhari’s sweep-through; establish the bank a business development advisory services that will enable and facilitate technology decision and capacity building strong enough to position technology in SMEs and big enterprises; establish a business mechanism that would promote technology development, diffusion and transfer; address and prioritize Intellectual Property Right of technology driven ideas  strong enough to secure venture capital  for technology businesses-SMEs; uphold Technology assessment capacity that would help to manage, inspect, auditing and generally monitor the threat (socioeconomic and environmental)posed by advanced and emerging technology;  establish technology, via finance, as an effect way to promote good health and safety culture in our workplace and general environment;  and create a sustainable physical  environment via open spaces and landscape etc. Possible only under the wings of technology.

According to the president-elect of  African Development Bank, we are greeted with non-inclusive growth regrettably caused by corruption and mismanagement, lack of transparency, social and economic insecurity, marginalization of females and youth, high-cost of doing business, inaccessible and unaffordable financing, infrastructural deficit, energy or power  deficit, unemployment, whacky implemented   policies, marginalization of rural development, general economy instability and lopsidedness which of course champions our continent, the highest of  the world’s poverty.

As such, the establishment of the bank would affords us a head-on tackle strategy as it is initiated and institutionalized to:  Minimize the global widening of the infrastructure gap through “smart-technology- infrastructure development”; enable the private sector to increase the opportunities in the job market; create opportunities for growth will  empower and lift people out of poverty through  technology revival and promotion; successfully attract enough capital in private sector investment commitments to the technology sector; address issues in technology development, transfer and diffusion via Technology Facilitation Mechanism; Integrate our region and connect landlocked countries through partnerships with global Tier-1 providers and investment in transnational technology infrastructure like open access submarine fiber optic cable, regional and metro terrestrial fiber optic networks, state-of-the-art data centres with high energy efficiency mode of operation and others that can substitute for costly construction of highways, trans-boundary water basins, and railway, maritime, and air transport systems meant to connect us through to coastal ports; Reduce the greater pressure on other developed countries like US, UK, and  Japan who, because of  extravagant investment attitude to technology may be reluctant or not have enough to help us finance our continent’s technology infrastructure and program; enable technology education, decision and capacity building; create  resilience in the growth process, owed to rapid urbanization,   which presently appears to fast for our economy to moderate or catchup with; severe the cord of corruption to its minimum by improved transparency made possible by  technology to  inject a see-through approach to the supply and distribution chain of resource particularly funds.

The working together of all of  these  would usher in: a vibrant and prosperous technology industry that is well on track to revitalize Nigeria’s economy; transparent economy void of corruption; shared prosperity; empowered population by virtue of access to education, jobs, and finances particularly youth and women via technology; reduced fragility of our social, political,  and economic which is said to be on the rise with over 53% of African nations  categorized to be in fragile state; increased access to electricity to drive rapid economic and social development; revived rural and landlocked economy by elimination of barriers and having their goods and services connected via technology to viable markets –local, regional and transcontinental; reduce the cost of goods and services by virtues of reduced cost of doing business; shield our resource-rich economies from over-exposure to volatilities in global markets as we saw recently with falling oil prices ;generally transformed livelihoods as millions would have been lifted out of poverty; a more open Africa by virtue  technological integrated infrastructure; successfully improved linkages in the sector of technology that is opened for vibrant economic activity; and a generally reformed continent  politically, economically and socially.

Technology; youth, women and Waste management: our society is that where most women and girls have ‘turned’ macho-men not because of transgender surgery but for the torrents of domestication that still very much thrive in major part of the African continent. Equally, children and youth have been made adult before their time by been subjected to steroids of abuse and enslavement as they let loose on the street to fend for themselves at very young age, as low as four, of their lives. As such, the indignity and insecurity that heralds such ill practices is  proven to be  effectively controlled or nipped by technology as it holds the capacity to relief or reduce the physical and social maltreatment incurred by them, helping them to reduce the long and difficult-manual, unsafe and unhealthy, process of doing shores and general activities.

Across space and time, people like women and girls, disabled or incapacitated persons, youth and elders, lone-livers who by circumstance beyond their making are prone to the feeling of being alone and apart have technology as refuge since technology’s demonstrated its capacity to support them by absorbing the stress and loneliness that may cause pain and enabling them personally and communally to live healthily within themselves and around the surroundings. With the use of a phone, this class of persons connect to each other and also organize effectively in co-operatives so they can express their demands as members of a powerful group rather than as isolated individuals.

Technology helps to preserve the tenderness of women and youth bearing in mind that this group of individuals are generally regarded as fragile or delicate beings that need extra attention and support. The demands of their continual need of assistance may not feasibly or viably met always by human as their might for routine problem (particularly in Africa – especially in the health setting). As such, technology can fill this gap as vulnerable persons can have access to the right information, at the right time, in the right format and even get on with a video consultation with a doctor, with the use of technology as simple as a phone.

Likewise, on the average, women are also less productive than men for reasons ranging from gender bias in training or education to how hard it is for women to hire and manage male laborers during the high work demands. However,  technology now makes it possible for women and youth to undertake work usually carried out only by men due to huge physical human strength such jobs demands  as they  can done in an automated model , eliminating or reducing the need for such amount of strength and manual-handling, together with the curse(s) that goes it marginalization of employment or empowerment. In other words, the factors that led to segregation of women and youth-inequality in the economy- is effectively brought to check resulting in sustainable development of the economy that radiates a shared-prosperity or ‘prosperity for all’ economy as they can be empowered by technology. Notably, no technology by itself can self-create gender equality or unbiased prosperity but by helping women and youth access connections they never had, technology (e.g. smartphone) can make a big difference.

In the wake of  the involvement of women of our nation and continent  in technology which  seems to have a fresh start following the very latest international challenge of mobile app ideas competition, Technovation World Pitch 2015 which held at San Francisco, USA involving a panel of judges from Yahoo, Yelp, Google, Hackbright Academy and the Foundation. Convened in a series of events which culminated in the two day World Pitch Conference where nearly 400 apps were submitted from 28 countries which paraded countries like; India, Mexico, Nigeria and the US (represented by teams from Massachusetts, Minnesota, New York and California) among the top ten finalist, but for the first in history, Nigerian team would came out on top globally. The global technology entrepreneurship program for girls was won by the Nigeria team comprise Praise David-Oku, Sonam Kumar, Nmesoma Ogbonna, Charlotte Takem and Grace Akpoiroro, all from Cross River State, and call themselves Team Charis.

However, the whopping $10,000 prize   the team received to seed fund the developed prototype mobile app that helps to address the problem of poor waste disposal by educating citizens, providing users with a e-platform to either request a mobile cart to pick up their waste or report a waste hazard in their environment is not the end of value their success holds our  and nation but the inestimable commitment that have pledge to encourage, empower, build and guide young girls to participate in technology entrepreneurship program by encouraging Parent, government and other able bodies, to  enroll  girls in computer programs at a tender age. More so, they plan to encourage the Provision of technology gadgets for use at home and schools as well as encourage girls and women to pick and study science related courses.  In addition, they hope to generally changed Africa (Nigeria) views of technology by making people see how technology can create positive change in our communities.

Accordingly, the engagement in technology entrepreneurship program helps motivate women to equally think outside the box, boost self-confidence and help them to build new relationships and networking skills by meeting new people from different parts of the world at the same time share brilliant ideas and powerful stories. It also helps them to learn a lot of things about coding and public speaking. They can  be empowered as they can start business at low cost since Digital technology helps to slash transaction costs as people can save and borrow money or purchase product and services securely and in small amounts through their phones.

On another note, the population particularly women and girls threatened by indignity and insecurity is appalling as they are subject to the absence of education, comfort, privacy and safe and hygienic of going about their personal and environmental sanitation. Women who cannot afford to stay any less hygienic else they and their environment might be haven for illness -transferable to children- and other epidemic diseases can have a better and healthier life with the input of technology.

Bare-minimum of Technology: the concept of Bare-minimum rides upon the understanding that a particular amenity of facility is generally acceptable as basic and fit only at a level the user cannot or shouldn’t afford to comprise any further else it would be at the detriment of the  person or environment, and of course the economy at large. That is, as one cannot compromise the requirement of water; clean and safe-for- use or basic sanitation; safe and hygienic to the persons and the environment at the bare minimum, so it is required in the sphere of technology. Generally, mobile phones, computer and internet, mobile-network are regarded as the ‘Bare-minimum of Technology’.

Accordingly, More than two-thirds of the people on the planet have access to mobile phones, and, increasingly, these are smartphones. Last year, more than 1 billion smartphones were sold worldwide. These statistics may be somewhat encouraging, but we’re not even close to universal smartphone coverage. In the same vein, data must very costly. Many people with smartphones don’t even use the internet because it is unaffordable by them. Likewise, Connectivity hasn’t reached most remote places in Africa, where the need for connection—in the widest sense of the world—is greatest.

Resultantly, most countries in Africa are classified as high priority countries for aid investment in technology as over 70 percent lack access to bare minimum technology. The ratio of women that have access to bare-minimum of technology is saddening even though technology is already increasing in countries like Bangladesh and Kenya, many emerging digital economies are male-dominated as men own mobile phones at much higher rates than women.

Considering the proportion of the poor in our continent to the ‘bare minima’ of technology like mobile phones, computer and internet, we are left behind when it comes to technology movement. More unpleasantly is the fact that illiteracy is becoming a girls’ problem, and women who can’t read will never get the most out of their mobile phones. Consequently, this leaves the big job of making sure that women and youth own phones in the same numbers as men and have access to apps designed to address their specific needs bearing in mind women are more than men in Africa and even in South Asia.

Threats of Technology: As the say ‘there is no pain without gain’. In other words as there is no improvement or solution without its own risk. Technology poses a significant environmental risk or cost (humans, social, and health) that are major burden, particularly, to Least Developed countries- African countries- more than the advanced countries because of obvious general factor of mental and physical, financial, political, economic and social incapacitation that  evident inherent in continent.

When the capacity to manage technology is inadequate, it may become a curse; jobs can be threatened by technology advances such as synthetic biology, robotic and artificial intelligence that may easily substitute for humans or numbers of human required in a job or employment. Equally technology advances may be a haven for environmental hazard- release of deleterious materials or element -which may be timely elusive and overly costly to control. Ultimately, this leads to global environmental concerns like global warming, green-house gas effects, emissions of poisonous rays or wave strong enough to collapse major or all human activities and lead to a global socio-economic crunch.

While it may be said that Africa has done little to contribute to the damage caused to environment, we are increasingly on the receiving end of climate change and are suffering heavily from the effects of it. The disproportionate price our continent is paying for climate change, has greatly added up to the socio-economic crunch that has been fingering it. As such, this places an urgent call for the inspection and auditing of the socioeconomic and environmental implication of advanced and emerging technology.

In Closing, only a Development Financial Institution like this bank this can be cohesively established as  Technology investment have great returns and pay off many times over and at the same time, harness targeted oversees aids and political favorable conditions. Thus, by virtue of its establishment, National government would increasingly recognize that access to technology is a basic human right that need to be kept far from citizens economy arm’s length. A vision of a continental access by all to the bare minimum of technology by 2030 can be in view as it is High time government and private stepped up effort to project our technology industrial to meet inter-regional and transcontinental demands. The financial institution can also play ample role in liaising for progressive annual budgetary allocation for mobilizing technology infrastructure in the regional or continent development plan. Indeed, the bank of Technology can make Africa, particularly Nigeria, the pride of the world in terms of having huge technology growth that will speedily lead to dramatic transformation of our continent as lives can be transformed by access to technology which means ad equally deformed by its denial.

This has made me write this open letter to the 2013 Leadership Newspaper Public Servant of the Year, who has shown beyond doubt his ability to reach out across organizational boundaries to connect people and institutions, including those in the private sector as he has worked with Heads of State and Finance ministers, leaders of the commercial banking industry, and central bank governors across Africa. Unarguably, he stands the best chance of replicating what he’s done so successfully in the Agricultural sector of Nigeria – building opportunities for growth and lifting people out of poverty – on the African continent on wings of a huge buy-in to  technology advancement.

The testimonies and merits of the quinquagenarian is more or less boundless as he’s successfully led huge and global efforts that leveraged domestic bank finance for the lineage of previous  sectors he diligently worked for in time past. He has, time after time effectively in many sectors, contexts, and countries across the continent, engaged African and international partners at the highest level, and joined together the financial and development worlds to bring about results of lifting millions of people out of poverty.

Beyond measures, his passion, vision and ability to build effective partnerships are getting rave reviews in global and African media as his candidacy received strong boosts from key non-regional member countries, with support from prominent global leaders. Has very broad support and strong backing from across Africa, from West, East, Central, Southern and Northern Africa – including strong support from major francophone countries. Dr. Adesina has visited several countries and met with Presidents and Governors of the Bank.

The path trailed by the 2014 Most Outstanding Minister by the British Nigerian Chamber of Commerce is highly commendable and enviable, especially considering the penury and obscurity of technological advancement prevalent in this part of the world. He was described by the former UN Secretary General, Kofi Annan, as “a dynamic and inspirational leader who can lead the process of transformation with commitment and determination. He is Known as an agent of transformation of sector and lives via the heels of; bold policy reform, support and empowerment of youth and women through the launch of solution-driven technology system that sets the pace in positive result- at scale in Africa and the world as a whole and innovative fiancé initiative that leverage adequate capital in bank finance commitment towards the development, improved transparency via technology.

The establishment of this bank can speedily bring to fruition his pledged plans to continue on his drive to use his invaluable skills and vast experiences to make a positive difference in the lives of all Africans. He can also, by reason of his role in this bank, leave blueprint on the sand of the African continent especially via technological giant strides which has been established in this century as key in matching forward our lagging economy.

Technology must be involved at any level in development strategies. Assuming everyone, particularly women and youth, have access to the basic minimum of technology, it would unleash their powers like never before. Technology is paramount if the African continent and its people are develop and live healthy and productive lives. Women and youth (less strong humans) have a natural advantage and improve the lives. It do not only bring about good standard living but longevity of lives via its mechanism of eliminating stress, accident, illness or diseases. Technology gives people leverage to start achieving their goals regardless of their age or gender and irrespective of the societal pressure or limitations.  For instance, assuming everyone in Africa, particularly women and youth, have access to the basic minimum of technology, it would unleash their powers like never before. Technology can play a critical role in addressing our continent’s challenges and embracing its opportunities.

I sincerely hope, by the subtlety of this letter, to poise, a man globally respected in the development community, with a record that encouraged current UN Secretary General Ban Ki Moon in 2010 to name Dr. Adesina among the 17 global leaders helping to drive the UN’s Millennium Development Goals, a group that also includes Bill Gates, Prime Minister Jose Zapatero of Spain, and President Paul Kagame of Rwanda, to establish the First of its kind, Bank of technology. By floating a bank of technology, the number one development bank on the African continent AFDB can realistically and fully grow into its role as the premier finance institution on the continent. Equally, the bank can better develop and implement its strategy and goals for the years ahead.  The 2012 conferred Commander of the Order of Niger has shown that he do not only understand the merits of a policy or strategy, but how to translate it into action on the ground. He can get the Bank to the needed secure high level of political dedication and the finances to match. He can play a lead and work tirelessly at this by endeavoring to: make significant outcomes of technology conferences and negotiations; increase annual budget allocations for technology infrastructure development, prioritize technology by mobilizing rescuers and aids in our continents development plan; and establish performance-check strategy that helps to monitor progress of technology project in the continent.

In furtherance, the need for creation of Bank dedicated or specialized in meeting the high demands (financial and political) of Technology is conspicuous at this junction of economy sojourn unto a sustainable development.  The establishment of Development banks have been fully encouraged all over the world since the 1950’s and has caused them to greatly increase since then. Large regional development banks include the Inter-American Development Bank, which started operation in 1959; the Asian Development Bank, established   in 1966; and of course the African Development Bank that began in 1964 which are presently elected to rule of its affairs and welfare.

This is once-in-a-generation moment and a chance for us (Africans) to play our part in the recovery of our globally lost distance in the race of technological advance and sustainable development. The time is ripe for the perception of technology to change in Africa, particularly Nigeria, from that of subsistence to one that promotes wealth through “Technology as a Business”. The need to change the way we see technology – to see it as not merely about development, but as an economic driver can’t be overemphasized. You might have to answer the question ‘what can technology do?’ by asking ‘what can technology?’.


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