Adeniyi also took a swipe at the Federal Government’s diversification agenda, saying it is driven by stomach infrastructure.
Speaking on the current economic recession, he said that we all have our breaking points, and the economic situation is pushing people to their breaking point.
Also, citing a quote from Chinua Achebe, Adeniyi assured Nigerians that things will surely get better soon.
He also took a swipe at the Federal Government’s diversification agenda, saying it is driven by stomach infrastructure.
Decrying the lack of funding in the educational sector and research, he called on the government to create the right atmosphere for a knowledge based economy to thrive.
He described a luggage economy as an economy that follows the normal curve of industrialisation, adding that it does not lead to a democratisation of wealth.
"Knowledge economy places focus on the ability of individuals to excel through innovation and creativity," he added.
According to Adeniyi, “The strongest economic value of Nigeria today is the ingenuity of our young people, who should be allowed to move at their pace.
“It is tragic that authorities have not realised that the future is about creating apps that will cause a solution for the people.”
Citing Andela and CChub, and other tech innovations, Adeniyi said it is wonderful that young Nigerians have made waves and stood out amongst their peers.
He also said "To build the future that we desire, the strength of creative youths are needed to bring solutions.
“These people can achieve in a few years, what proponents of luggage economy could not achieve in many years."
Adeniyi said ‘With better application of knowledge, we can do things more smarter and faster, adding that Japan and Germany have focused on promoting a knowledge based economy.
‘Government should allow people build the nation with their creativity and create an enabling environment for them to thrive.’
He also revealed that investment in education is crippled by the law that requires investors to have 100 hectares of land.
Segun Adeniyi, who spoke on the topic: Between luggage economy and knowledge economy, the way to go, is currently the Chairman of ThisDay editorial board.