My grandmother is a woman in her late sixties. Smart and observant. So recently, we spent time analysing how the economy was in her youthful days and how it is presently in my own youthful age. Clearly, there is a huge dichotomy between the past and the present. Gone are those days when everything was so cheap. Now, even garri is gold.
You remember 9ice's economy? His hit single in which he lamented over the sorry state of Nigeria's economy occasioned by the flunctuation of naira against dollar in the exchange market and the government's feeble effort at reviving the economy?
So what is with the high cost of living in Nigeria? Our over dependence on crude oil is a major factor that has led to an exhorbitant rise in the cost of living. Gone are those days before oil was discovered in Olobiri, Delta state when agriculture was the main revenue generator for the country. Now, the falling price of crude oil in the world market occasioned by the development of other sources of power i.e solar energy has clearly shown the need for Nigeria to go back to agriculture and position the nation for self sufficiency. It is important to note that agriculture provides most raw materials for manufacturing industries and companies.
Nigeria is an import dependent country. Few things are being produced locally. Even rice which is the most consumed staple food in the country is being imported from Thailand. Nigeria has the green vegetation and abundant land that will massively support agriculture. If you travel along the Lagos-Ibadan expressway or any other expressway in Nigeria, you will be surprised to see a vast of uncultivated fertile land sprouting richly growing weeds.
So what is the deal? Nigerians should act on the call of diversification by the Federal government of the economy from import dependency and crude oil dependency to agriculture. When the economy is diversified, Nigerians will no longer suffer form the high cost of living as foodstuffs and other commodities will be available for purchase massively. Then the economy will attain the vibrant state it was before the discovery of crude oil.
You can contact the writer of this article: 08107916722 @ Whatsapp
No comments:
Post a Comment