Invest in Innovation, Not Just Natural Resources — Okoigun

A prominent figure in Nigeria’s oil and gas industry, Alfred Okoigun, has urged the country to redirect its development focus from dependence on natural resources to sustained investment in science, technology and human capital.

He made the call during the Nigerian Academy of Engineering Technology Dinner held in Abuja.
Okoigun, the founder of ARCO GROUP, said Nigeria’s long-term prosperity would depend more on the knowledge, skills and innovation of its people than on its oil and mineral resources.
According to him, natural resources alone cannot guarantee economic growth, noting that countries such as South Korea, Singapore and China achieved remarkable economic transformation through consistent investment in education, research and industrial development.
He called on Nigeria to recognise education as vital economic infrastructure and to regard research as a strategic investment capable of driving innovation, enhancing competitiveness and promoting national development.
Okoigun also advocated stronger collaboration among universities, industry, government and the private sector to create an enabling environment where more Nigerians can develop innovative solutions and contribute meaningfully to the country’s economic growth.