Recession: Agriculture, Solid Minerals for Economic Recovery in Nigeria – By Olaniyi Abdulwaheed
Nigeria, the country endowed with human and natural resources, has been soaked in economic quagmire. The country is rich but her people are poor. Why? The colossal dependency on oil which has earned Nigeria different sobriquets in the world is the doctor that healed and killed the growth of the economy. Oil was discovered when the country was young. The boom of the 1970’s made government at all levels dance to the sonorous tune of economy, until things fell apart. While other sectors of the economy seem to be stranded, oil is being exported and economic recession stirs today. What is the way out? There are ample opportunities in agriculture as well as solid minerals to boast non-oil exports and revamp the economy. Diversifying the economy into agriculture is a messianic route to the economic survival of the country. Agriculture is the only natural tool for human existence. Its products constitute about 70% of human needs, more than oil, the glitzy product every country ...