By Hadiza Aliyu
Since the discovery of oil in Nigeria has become the Main Stay of the country’s economy. The country derives her revenue mainly from the sale of crude oil to other countries and this development has been with the attendant problems.
It has remained the only source of revenue for the country and the Hub of the Nigerian economy. As a result of this, other sources through which the country can make money has been neglected.
Gone are the day when Nigerians were proud of being citizens of a country which supply the world with palm oil, cocoa, groundout and cotton. then Nigerians are proud of being the owners of the much-talked-about groundnut pyramids, vast palm oil farms in the East and cocoa in the West. All this vanished with discovery of crude oil in Commercial quantities to the detriment of the economy of the country.
Now that the country’s economy is depressed, there is need for the economy to be diversified. The country stands to gain a lot of diversifying her economy from oil to agriculture.
First and foremost, developing the agricultural sector of our economy will lead to increase in the production of food in the country. When there is an increase in food production prices will come down and many Nigerians to be able to feed very well. This will go along way to reduce hunger and poverty drastically among the citizens.
Apart from this, unemployment which is rampant in the country will be reduced. If government can begin to pay serious attention to agriculture many unemployed youths will consider farming a worthwhile career with adequate incentives from the government, many Nigerians will be employed in the agricultural sector of the economy because farming would have been made attractive.
Furthermore, substantial foreign exchange earnings will be achieved through exportation of excess food to other countries of the world. Nigeria with her vast expanse of land can become the food basket of the West African sub-region in particular and the whole world in general, if her economy is diversified into agricultural production.
Nigerian government should try to revive the other source of its income which comprises the likes of groundnut oil, Cotton, palm oil and cocoa should give utmost priority to agriculture. Given priority to the agricultural sector will be the only way out and the way forward to Nigeria, the Nigerian government need to take steps and imitates from other countries that have been making some thrived through agriculture. Such countries include Brazil, China, India among others.
Nigeria now need to look at some alternatives in order to save its economy from collapsing as crude oil is no more taking its past position as many countries of the world had joined race in becoming the oil-producing countries.
Finally, oil became less important when agriculture is given a priority. This will lead to reduction in the violent agitation from the people in the region where crude oil is explored cases of kidnapping of young and old people in the region will be solved, thereby erasing a bad image that the country has unduly earned through such acts of violence.
