Nigeria urgently needs to revolutionise its industrial sector to become an economic giant. This, in turn, will transform the lives of its people and Africa as a whole, the President of the African Development Bank, Dr Akinwumi Adesina, said in Lagos on Thursday. Citing examples from Malaysia and Vietnam, he said this was doable. “Malaysia and Vietnam have used aggressive horizontal and vertical diversification of industrial production to move from low-value to high-value market products,” Adesina said. “The result is reflected in the comparative wealth of the three countries. While the per capita export value is $7,100 for Malaysia and $3,600 for Vietnam, it is only $160 for Nigeria.” Read More
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