Back In Time and Beneath Their Feet

Discussion in 'General Posts' started by dayo Omons, Jun 25, 2016. Views count: 447

  1. dayo Omons

    dayo Omons Member

    Over the past 57 years Nigeria has a revenue of approximately 1 trillion dollars from oil but with modern technology most countries self supply themselves. For the past 40 years recent leaders of Nigeria have mistakenly put all their chips in the oil industry, diminishing the agricultural income. The current president of Nigeria, Muhammadu Buhari believes that exports of oil are over for Nigeria and that the country needs to diversify their income. Nigeria used be abundant exporters of agricultural items such as cocoa, peanuts, rubber, and palm oil due to the land tenure system. The system does not inhibit long-term investments in modern technology. Alongside agricultural, mining is being looked into to help replace exporting oil. While oil has masked the potential of Nigeria’s resources Muhammadu Buhari intends to reveal what’s been hidden.

    Nigeria was once a country plentiful in agricultural production. The land, the temperature, and pretty much everything about the weather in Nigeria is highly beneficial for agriculture. Even the green on the flag is symbolic for the perfect environment for working off the land. The land was vast enough to appoint 3 large parts of the country to certain export needs. The west was designated for cocoa, the north for peanuts, and the eastern region for palm oil. Oil began to boom in the 1970’s diminishing the agricultural nature of Nigeria. Many farmers were moved into oil factories and the food for Nigerians had to come through expensive imports.

    Mining in Nigeria, much like farming, was put to sleep before it’s time. Nigeria began mining projects in the 1970’s with the main exports of tin, columbite, and coal. Just as agriculture was, mining production was short lived for the introduction of crude oil which became a major foreign exchange product. Mining production amounts to less than 1 percent of Nigeria’s gross domestic products but will surely rise along with agriculture through Muhammadu Buhari’s mantra of “Change”.

    Muhammadu Buhari wanted to become president of Nigeria to bring change to the country, especially the economy. Throughout his first year the economy has nearly been untouched but plans to improve have arrived. Buhari’s mantra of “Change” has three different segments. These are to adopt a new appearance, to construct a new and modern type of governance, and to improve economics. All aspects of the plan go hand-in-hand to improve economics. For example, to improve Nigeria’s appearance the rulers plan to enforce professionalism and 21st century techniques and technologies. These technologies will help govern the people of Nigeria but will leave more unemployment in the federal and state civil services with replacements by computers. However, the economy should improve by creating more jobs and relieving poverty. These steps should to the exportation of migrant workers as another resource for Nigeria.

    As of recently the Nigerian petroleum industry has revealed possible investment opportunities through natural gas. As the export of oil decreases, the foreign and domestic need for gas is booming. The local Nigerian need for gas will lead to local investors and this will increase the economy as well as the well-being of the country.

    Nigeria may be at the bottom of the pit but the opportunities to rise has been and still is literally beneath their feet.

    Dayo Omons is a freelance writer for Energymixreport Africa’s leading Nigeria news source with publications covering oil and gas in Nigeria