Why Nigeria should diversify economy, declare state of emergency on agricultural sector, by Usman Umar
Nigeria is blessed with abundant natural resources, yet its heavy reliance on oil has left the country vulnerable to fluctuations in global oil prices.
As a result, the Nigerian economy has been struggling in recent years, with high unemployment rates and widespread poverty.
One solution to this economic crisis is to diversify Nigeria’s economy by focusing on agriculture.
Agriculture has the potential to provide sustainable livelihood for millions of Nigerians.
However, the agricultural sector in Nigeria is currently underdeveloped and faces numerous challenges such as poor infrastructure, limited access to credit, insecurity and inadequate government support.
To address these challenges and unlock the full potential of the agricultural sector, Nigeria must declare a state of emergency on the sector.
This would involve allocating more funding and resources to increase productivity, export potential, create Jobs and increase agric value chains as well as infrastructural development.
By adopting modern farming techniques and technology, Nigerian agriculture can become more efficient and yield higher outputs.
This will result in increased production of crops and livestock, which can significantly contribute to the country’s Gross Domestic Production (GDP).
Nigeria has a diverse range of agricultural products that have the potential to be exported to international markets.
By tapping into these export opportunities, the country can generate more revenue and boost its GDP.
Agriculture is a labour-intensive sector that has the potential to create employment opportunities for millions of Nigerians.
By investing in the agricultural sector and providing training and support to farmers, the country can create more jobs and reduce unemployment rates.
Also, by processing agricultural products into finished goods, Nigeria can add value to its agricultural output and increase its market value.
This can lead to higher revenues and contribute to the country’s developmental needs.
Improving infrastructure such as roads, irrigation systems, and storage facilities can help farmers access markets much easier and reduce post-harvest losses.
This will enable the agricultural sector grow and make a greater contribution to the domestic economy.
By declaring a state of emergency on agriculture, Nigeria can diversify its economy, reduce its reliance on oil, and improve food security for its citizens.
By focusing on the foregoing, Nigeria will not only create economic opportunities for farmers, but also help the country become more resilient to external shocks and ensure sustainable development for future generations.
Proofreading, editing by Uji A. Iliyasu and Usman Umar, Editor and Reporter at Neptune Prime
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