. Says diversified exports must be anchored on innovation, complex products

Chairman of the Nigeria Revenue Service (NRS), Dr Zacch Adedeji, has canvassed a paradigm shift in dependence on raw material exports to one that embrace ideas, innovation and the production of complex products as a pathway to sustainable economic growth and national prosperity.

Adedeji made the submission while delivering the maiden distinguished personality lecture of the Faculty of Administration, Obafemi Awolowo University (OAU), Ile-Ife, Osun State, on Thursday.

A statement by his Special Adviser on Media, Dare Adekanmbi, said Adedeji, in the lecture entitled, ‘From Potential to Prosperity: Export-led Economy’, stressed the need to rethink growth through the lens of complexity by not just producing more of the same stuff.

He lamented that Nigeria possesses a high-tech oil sector and low-productivity informal sector as well as lacking “the vibrant, labour-absorbing industrial base that serves as a bridge to higher complexity.”

The NRS boss stated that Nigeria witnessed stagnation in its exportation drive for three decades between 1998 to 2023, and only added six new products in its export basket list between 2008 and 2023.

“Because of our current position, the Harvard Atlas concluded that we are positioned to take advantage of very few opportunities to diversify using what we already know.”

Adedeji urged Nigeria to learn from the world by comparative study of success and failure like Vietnam, Bangladesh, Indonesia, South Africa and Brazil.

“We are not just looking at numbers in a vacuum; we are looking at the strategic choices made by nations like Vietnam, Indonesia, Bangladesh, Brazil, and South Africa over the same twenty-five-year period. While there are many ways to underperform, the path to success is remarkably consistent: it is defined by a clear strategy to build economic complexity.

“When we put these stories together, the divergence is clear. Vietnam used global trade to build a resilient, complex economy, while the others remained dependent on natural resources or a single low-tech niche.

“There are three big lessons here for us in Nigeria as we think about our roadmap. First, avoiding the resource curse is necessary, but it is not enough. You need a proactive strategy to build productive capabilities.

“Vietnam’s success came from integrating itself into Global Value Chains (GVCs). They positioned themselves as the assembly hub for the world’s electronics, importing high-tech parts and exporting finished products.

“This allowed them to “borrow” technology and management skills from abroad to build their own know-how.

“Nigeria, on the other hand, remains a supplier of raw materials to these chains, not an active participant within them. We must realise that productive capabilities are not permanent. The examples of South Africa and Brazil show us that you can actually lose your industrial edge if you are not careful. Over-reliance on the easy path of resource extraction creates economic and political incentives that crowd out the difficult, long-term work of building an industrial base.”

He added that for Nigeria, which is at an even earlier stage of development and even less diversified than these nations, the warning is stark.

“Relying solely on our natural endowments isn’t just a path to stagnation; it’s a path to regression. The global economy increasingly rewards knowledge and complexity, not just what you can dig out of the ground. If we want to move from potential to prosperity, we must stop being just a source of raw materials and start being a source of ideas, innovation, and complex products.

He added that President Bola Tinubu has already begun the difficult work of rebuilding the economy to ensure collective knowledge to innovate, produce and build a resilient economy.

“The journey from potential to prosperity is not a short one, but with the right map and the right resolve, it is a journey we can finally complete,’ he added.

At least 75 residents were killed and several houses set ablaze when suspected terrorists attacked the Nuku and Woro communities in the Kaiama LGA of Kwara state.

Adetoun Ejire-Adeyemi, the police spokesperson in Kwara, said the attack on the communities began at about 6pm on Tuesday.

Ejire-Adeyemi said security agencies had since been deployed to the affected areas but noted that the number of casualties remained uncertain, while reports of missing persons are still being investigated.

However, Rauf Ajakaye, the chief press secretary to AbdulRahman AbdulRazaq, governor of Kwara, told TheCable that 75 residents were killed by the suspected terrorists during the attack.

He added that the victims, who were moderate Muslims, were killed for “refusing to surrender to extremists who preached a strange doctrine”.

Ajakaye said the governor arrived in Kaiama on Wednesday night in the company of service chiefs and cabinet members to commiserate with the communities and assess the situation.

TINUBU DEPLOYS TROOPS

According to him, AbdulRazaq, who was received by the Emir of Kaiama, announced that President Bola Tinubu has approved the immediate deployment of an army battalion to prosecute counter offensives codenamed ‘Operation Savannah Shield’ in the communities.

The governor had on Tuesday condemned the attack, describing it as a “cowardly assault on innocent civilians” in the two communities.

He said the incident was likely an attempt by terrorist groups to distract security agencies amid ongoing counterterrorism operations in parts of the state.

The attack comes amid renewed security cooperation between Nigeria and the United States, with Washington confirming the deployment of a “small team” of troops to the country.

Dagvin Anderson, the general in charge of the US Africa Command (AFRICOM), disclosed the development during a press briefing on Tuesday.

It marks the first public acknowledgement of US troops operating on Nigerian soil since the Donald Trump administration authorised missile strikes against terrorist targets in Sokoto on Christmas Day.

Bandit groups, long active in Nigeria’s north-west, have in recent years expanded their operations into states such as Kwara and neighbouring Niger.

Jihadist groups linked to a Boko Haram splinter faction have also carried out attacks in Kwara, frequently targeting markets and vigilante groups.

The Cable

Ogun State Police have summoned Rasheed Adeoye Adesanya, the Olisa of Ijebu-Ode and Otunba Jimi Lawal to appear at the State Criminal Investigation Department (SCID) for an interview on Thursday, regarding alleged bribery and financial inducement related to the Awujale stool selection.

This follows the state government’s suspension of the selection process due to security concerns and protests against alleged attempts to buy the throne.

In different letters addressed to the two, signed by the Deputy Commissioner of Police, DCP Gboyega Adeoye, said the invitation was a fact-finding one in pursuance of the investigative powers conferred on the Nigeria Police by the combined provisions of Section 214 of the Constitution of the Federal Republic of Nigeria 1999 (as amended) and Section 4 (a) of the Police Act 2020.

Lawal who was a governorship aspirant of the Peoples Democratic Party (PDP), was directed to appear before it on Wednesday, while Adesanya would appear on Thursday.

They were asked to come with their lawyers if they deemed it necessary.

“Your presence is therefore required to assist in advancing the course of Criminal Justice delivery and fairness,” the letter reads.

However, information had it that those invited could be more than two.