By Henry Umoru

ABUJA — Founder of ARCO Group Plc, Alfred Okoigun, has called for a fundamental shift in Nigeria’s development strategy, urging policymakers, industry leaders and academic institutions to prioritise science, engineering, research and innovation as the foundation for sustainable national development.

Speaking at the Nigerian Academy of Engineering Technology Dinner and Awards Night in Abuja, Okoigun said Nigeria’s future prosperity would depend less on its natural resources and more on its ability to build knowledge, develop human capital and create globally competitive industries.

Delivering a lecture titled “From Resource Wealth to Knowledge Wealth: The Science of Nation Building – The Defining Question of Our Time,” he argued that while natural resources provide economic opportunities, they cannot guarantee long-term growth.

According to him, countries that have achieved lasting prosperity have done so by investing heavily in education, technology and scientific research rather than relying solely on natural resource wealth.

“The future will not belong to nations that merely possess resources. It will belong to nations that possess capabilities—those that can innovate, solve problems and continuously generate value through knowledge,” he said.

Okoigun cited South Korea, Singapore and China as examples of countries that transformed their economies through deliberate investments in engineering, innovation, manufacturing and human capital despite facing significant developmental challenges at independence.

Drawing from ARCO Group’s 45-year history, he said the company deliberately focused on knowledge transfer, local capacity development and technical partnerships, enabling it to expand into engineering, marine services, aviation training, asset integrity management and advanced drone technologies while creating employment opportunities for Nigerians.

“Our most valuable asset has never been equipment or capital. It has always been knowledge,” he said.

Okoigun also underscored the importance of strengthening technical institutions, describing the Petroleum Training Institute (PTI) as a successful example of how investments in skills development can contribute to national growth.

A graduate of the institute, he recalled organising Nigeria’s first Gas Re-Injection Seminar at PTI in 1982, noting that its greatest impact was the exchange of ideas and the development of local expertise.

He said Nigeria’s greatest competitive advantage remains its people, pointing to the achievements of Nigerians excelling in science, engineering, medicine, artificial intelligence, literature, sports and entrepreneurship around the world.

According to him, the country’s major challenge is not a shortage of talent but the inability of its institutions to systematically identify, develop and retain skilled professionals.

“If Nigerians can build the future of artificial intelligence abroad, pioneer engineering breakthroughs and lead scientific discoveries globally, there is no reason Nigeria cannot become a centre of innovation and technological leadership,” he said.

Okoigun called for a coordinated national agenda involving government, universities, private sector organisations, investors and professional bodies to reposition education as a key driver of economic growth.

He also urged stronger collaboration between industries and research institutions and encouraged businesses to invest in mentorship, technical training and innovation to enhance Nigeria’s long-term competitiveness.

He noted that countries leading the 21st-century economy are investing in artificial intelligence, biotechnology, robotics, advanced manufacturing, renewable energy and scientific research.

“The future is already being built. The question is whether Nigeria will help design it or simply purchase it,” he said.

Okoigun urged Nigeria to adopt a knowledge-driven development model capable of transforming ideas into industries, talent into productivity and innovation into national prosperity.

He said the country’s future would be determined not by the resources it possesses but by the institutions it builds, the talent it develops and its ability to compete globally through knowledge and innovation.