A John A Hannah distinguished Professor in land policy from the Michigan State University, United States, Professor Soji Adelaja, has offered a perspective on the important role of education in long-term societal transformation and the range of issues that relate to COVID-19 and education.
Professor Adelaja disclosed this while presenting a report during the webinar entitled “Impact of the COVID-19 Pandemic on Children’s Education,” organised by the Obafemi Awolowo Foundation held on Sunday, January 17.
- According to Professor Adelaja, The world has transitioned from the old economy to the new global economy.
- Old Economy: National growth (Q) derived from the stock of labor (L), capital (C), management (M) & natural resources (N).
- New Economy : National growth (Q) derives mostly from the stock of Human Capital – talent or knowledge (HC), Venture Capital (VC), Entrepreneurship (E) and Place Amenities (P).
- New Paradigm of Growth: Q = f ( C, L, M, N, HC, VC, EN, P).
- New economy growth drivers now account for most growth.
- Future growth will come mostly from people who work with their heads, not with their hands.
- Education enables economic transformation by giving future citizens the opportunity to work with their minds & heads.
- The accumulation of Talent, Innovation, Entrepreneurship & Place Assets will define Nigeria’s future success.
Below are the presentations for your download:
Awolowo Foundation Presentation (Rethinking Basic Education Now and Post-Pandemic)
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