Professor Nana Oppong, a respected Ghanaian academic, has urged African nations to prioritise the development of their intellectual capacity as a more sustainable path to progress than their current reliance on natural resources.
He argued that developing countries have been hindered in their progress by their excessive dependence on natural resources for economic growth.
Speaking in an interview with ‘The School of Soulidarity’ on April 29, 2025, about his newly published book, “Authority as the Lord of Economics,” Professor Nana Oppong stressed the critical need for African and Asian nations to make substantial investments in developing the skills and knowledge of their people.
He believes this is essential for them to become leading “authorities” in their respective fields.
“In today’s interconnected world, the ability to compete and have your ideas and discoveries recognised hinges on establishing authority.
“Consider car manufacturing; to draw customers, you must produce the highest quality vehicle. Therefore, we must strive to be the very best in every endeavor we undertake,” he explained.
Professor Nana Oppong also criticised the reliance of developing countries on borrowed funds for development, pointedly questioning whether these nations could also borrow ‘spirituality.’
“Authority is a measurement of aggregate, so you look at finance, whoever has the competence and final word has authority.
“So, in the case of Swift, it controls Swift banking, hence, controls financing. Who controls NASA? Who controls biology? Who controls pharmaceuticals? We need to have an authority in all things we do to be able to be competitive,” he added.
Given this context, Professor Nana Oppong urged Africans to cease blaming colonial powers for their developmental deficits and current economic challenges.
He, however, emphasised the need for them to focus on building their own capabilities to improve the well-being of their people.
“There are three simple rules in this world: you have the right to be wise, the right to be foolish, the right for the wise to legally exploit the foolish,” he stressed.
VPO/AE
