An international author and host of Fareed Zakaria’s GPS on CNN, Dr. Fareed Zakaria, has advised the Federal Government that a focused investment in human capital development and building strong institutions to safe-guard society from human failings are important requirements for lifting the country and other developing nations out of the lowest levels of economic growth.

Speaking at the Airtel Night of Influence recently in Lagos, he further advised that rather than “subsidising the present or buying votes, leaders should invest in education, invest in Infrastructure, invest in healthcare and invest in the future.”

Though Taiwan and South Korea do not have natural resources, Zakaria observed that the countries had emerged strong economies with impressive GDP growth rates because of their efforts in developing human capital and building strong institutions.

According to him, the United States currently exports human capital in Liquefied Natural Gas and other areas because the country has invested in research, training and development in those areas.

He said, “There is so much human talent in Africa and in Nigeria. These talents need to be unlocked through education. It is an irony that countries experiencing high GDP growth are countries without natural resources. Look at Taiwan. What they have is typhoon, they do not have any natural resources; yet, they have managed to emerge as one of the countries with the highest GDP growth rate.”

via Punch