Prof Patrick Utomi, the Chairman of the Pan African Trade and Investment Committee (PAFTRAC), has underscored the necessity for Africa to invest in education and strategic planning to boost its competitiveness on the global stage.
He accentuated the role of education in propelling economic growth and development.
Prof Utomi emphasised that a well-educated workforce was a fundamental requirement for innovation, productivity, and competitiveness.
In a discussion on the Point of View on Channel One TV, Prof Utomi articulated that the continent requires not only power but also education.
“For us to be more competitive not only do we have to have power we also need education. It is the human capital that facilitates productivity increase that drives competitiveness. We need a strategy. you can’t do everything as well.
“You going to choose areas where you have certain factor endowments and you use limited industrial policy to facilitate great efficiencies within those factors to make you competitive on those value chains,” he stated.
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