Praises for Nigerian over application of Nobel Prize winning work – The Guardian
October 22, 2009 by Bunmi Awolusi
The award of this year’s Nobel Prize in Economics to two Americans, including Prof. Oliver Williamson, is still eliciting interest among Nigerian scholars abroad, especially in the United States (U.S.).
At the centre is a Nigerian professor, who is being celebrated by his peers for having recognised and applied over a decade ago, the winning work of the Swedish Academy’s honour in the field.
The Nobel Prize went to Williamson in recognition of his now famous transaction cost theory.
But Prof. Nimi Wariboko, who had applied the theory about a decade ago, and other U.S.-based Nigerian scholars who are familiar with the works of Williamson and Wariboko on transaction cost economics, were also celebrating as the winner.
The connection between Wariboko’s work and that of the Nobel Prize winner was explained by Prof. Toyin Falola of the University of Texas at Austin who is a prominent African historian in North America and one of the leading Nigerian academic scholars in the U.S.
