BreconHills:


You should have written this in 1972 when your oil production to population ratio was high and your country had USD. That USD was frittered away by successive governments with nothing to show for it. Now you have nothing. How do you invest like these countries with no money?

If you can find the money today to implement what you have written here, you will become a national treasure.

TheFreshVanilla:
Ehya...na statistics we go chop.

Yankee101:
It’s a lie
There’s plenty of food but people can’t buy
Plenty of fuel but they park their cars and trek
Plenty of money in circulation but in the hands of few thieving politicians

So it’s not about supply

saintjimos:
Funny enough the govt is just suffering the poor masses

davosea:
Strapped,angry and hungry oga president please do somethin, cuz shit is till fvcked up.

malali:


[b]True, we are late to the game, but there is still hope, we have to decentralize government funding and look State-wise, Every state should work increasing its IGR

Diversifying Nigeria's revenue streams beyond crude oil involves leveraging the unique resources and capabilities of each state. Here are specific examples of industries and sectors that each state could contribute to generating foreign revenue:

Lagos State:
Information Technology (IT) and Software Development: Lagos is the commercial and financial hub of Nigeria with a thriving tech ecosystem. The state can further develop its IT infrastructure, support tech startups, and promote software development services for export to international markets.
Entertainment Industry: Lagos is known as the entertainment capital of Nigeria, home to Nollywood and a vibrant music scene. The state can capitalize on this by promoting film production, music festivals, and cultural events to attract international audiences and generate revenue through film distribution and music licensing.

Kano State:
Textile Manufacturing: Kano has a long history of textile production. The state can revitalize its textile industry by investing in modern manufacturing facilities, improving supply chain logistics, and producing high-quality textiles for export to global markets.
Agro-processing: Kano is also known for its agricultural productivity. The state can establish agro-processing plants to add value to agricultural products such as grains, fruits, and vegetables before export, meeting international quality standards and increasing revenue.

Rivers State:
Oil and Gas Services: Rivers State, home to Port Harcourt, can leverage its expertise in the oil and gas sector to provide specialized services such as engineering, procurement, and construction (EPC) for oil and gas projects worldwide.
Maritime Industry: With its strategic location along the coast, Rivers State can develop its maritime industry by investing in port infrastructure, shipbuilding, and maritime logistics services to facilitate international trade and maritime transportation.

Ogun State:
Manufacturing: Ogun State, located close to Lagos, can capitalize on its proximity to the commercial center by attracting manufacturing industries. The state can focus on automotive assembly, food processing, and consumer goods manufacturing for export to regional and international markets.
Industrial Parks: Ogun State can develop industrial parks and special economic zones to attract foreign investors and provide a conducive environment for manufacturing and export-oriented industries.

Anambra State:
Pharmaceutical Industry: Anambra State can develop its pharmaceutical industry by investing in research and development, manufacturing of generic drugs, and pharmaceutical distribution networks. The state can produce high-quality medicines for export to African and global markets.
Trade and Commerce: Anambra State, known for its vibrant markets and commercial activities, can promote trade fairs, exhibitions, and business conferences to attract international investors and traders, stimulating economic growth and generating foreign revenue.

Kaduna State:
Agriculture: Kaduna State has significant agricultural potential. The state can focus on large-scale cultivation of crops such as maize, sorghum, and soybeans, as well as livestock farming. Value addition through agro-processing and export of agricultural products can boost foreign revenue.
Mining and Solid Minerals: Kaduna is rich in solid minerals such as gold, limestone, and gypsum. The state can develop its mining industry by attracting investment in mineral exploration, extraction, and processing, meeting international demand for raw materials and minerals.
By leveraging their respective strengths and resources, each state in Nigeria can contribute to diversifying the country's revenue streams beyond crude oil and tapping into high-demand industries internationally.[/b]

Thegamingorca:
200 million population will soon become 20 million

malali:


[b]True, we are late to the game, but there is still hope, we have to decentralize government funding and look State-wise, Every state should work increasing its IGR

Diversifying Nigeria's revenue streams beyond crude oil involves leveraging the unique resources and capabilities of each state. Here are specific examples of industries and sectors that each state could contribute to generating foreign revenue:

Lagos State:
Information Technology (IT) and Software Development: Lagos is the commercial and financial hub of Nigeria with a thriving tech ecosystem. The state can further develop its IT infrastructure, support tech startups, and promote software development services for export to international markets.
Entertainment Industry: Lagos is known as the entertainment capital of Nigeria, home to Nollywood and a vibrant music scene. The state can capitalize on this by promoting film production, music festivals, and cultural events to attract international audiences and generate revenue through film distribution and music licensing.

Kano State:
Textile Manufacturing: Kano has a long history of textile production. The state can revitalize its textile industry by investing in modern manufacturing facilities, improving supply chain logistics, and producing high-quality textiles for export to global markets.
Agro-processing: Kano is also known for its agricultural productivity. The state can establish agro-processing plants to add value to agricultural products such as grains, fruits, and vegetables before export, meeting international quality standards and increasing revenue.

Rivers State:
Oil and Gas Services: Rivers State, home to Port Harcourt, can leverage its expertise in the oil and gas sector to provide specialized services such as engineering, procurement, and construction (EPC) for oil and gas projects worldwide.
Maritime Industry: With its strategic location along the coast, Rivers State can develop its maritime industry by investing in port infrastructure, shipbuilding, and maritime logistics services to facilitate international trade and maritime transportation.

Ogun State:
Manufacturing: Ogun State, located close to Lagos, can capitalize on its proximity to the commercial center by attracting manufacturing industries. The state can focus on automotive assembly, food processing, and consumer goods manufacturing for export to regional and international markets.
Industrial Parks: Ogun State can develop industrial parks and special economic zones to attract foreign investors and provide a conducive environment for manufacturing and export-oriented industries.

Anambra State:
Pharmaceutical Industry: Anambra State can develop its pharmaceutical industry by investing in research and development, manufacturing of generic drugs, and pharmaceutical distribution networks. The state can produce high-quality medicines for export to African and global markets.
Trade and Commerce: Anambra State, known for its vibrant markets and commercial activities, can promote trade fairs, exhibitions, and business conferences to attract international investors and traders, stimulating economic growth and generating foreign revenue.

Kaduna State:
Agriculture: Kaduna State has significant agricultural potential. The state can focus on large-scale cultivation of crops such as maize, sorghum, and soybeans, as well as livestock farming. Value addition through agro-processing and export of agricultural products can boost foreign revenue.
Mining and Solid Minerals: Kaduna is rich in solid minerals such as gold, limestone, and gypsum. The state can develop its mining industry by attracting investment in mineral exploration, extraction, and processing, meeting international demand for raw materials and minerals.
By leveraging their respective strengths and resources, each state in Nigeria can contribute to diversifying the country's revenue streams beyond crude oil and tapping into high-demand industries internationally.[/b]

Bobloco:


https://dailypost.ng/2024/02/09/supply-shocks-hyper-inflation-cause-of-hunger-hardship-cbn-gov-cardoso/

festacman:
In his address at a well-attended public hearing, the apex bank boss attributed hyper inflation to organic food shortages but added that the government was addressing the menace through fiscal policies which may take time to work out.

You can't address the problem of food shortages through fiscal means. You counter food shortages by producing more food. FG must devise ways to facilitate production of more food by applying innovation in protecting farmers and their farms as well as bringing more lands under cultivation in the coming farming season.

By the way the CBN Governor's speech is all over the place. Said so much without saying anything that looks like a solution to current economic crisis.

We need a holistic economic plan while the current adhoc measures are implemented.

Brendaniel:


So Tinubu should continue doing damage like his predecessors ?

BreconHills:


Someone has thought fit to give exhaustive ideas as to how Nigeria can move forward. Not once has he mentioned any personality and here you are still living under Tinubus shadow. Since you have nothing to contribute but diatribes please stay out of my two way conversation

malali:
[b]The Past Nigerian administration lack revenue generating ideas, they have been running the pocket money economy system. Instead of taking revenue generated from the oil boom since late 70's till date. They have just looted the money and used the rest to subsidize lifestyle of Nigerians (fuel subsidy). Now they can barely afford the subsidy and also pay salaries, pension and also politicians. So they are transferring the subsidy to the common man, this will free up cash for them to loot, and run the government. Eventually even without paying subsidy there still wont be enough cash to run the government (We are already in this stage, thats why they keep borrowing money up and down, which devalues our currency). See some countries that have also used the same oil to prosper their nation as a whole.
Norway: Norway has built a sovereign wealth fund, known as the Government Pension Fund Global, which invests proceeds from oil and gas production. The fund is one of the largest in the world and has investments in various sectors globally, providing a stable source of income for the country.

United Arab Emirates (UAE): The UAE, particularly Dubai and Abu Dhabi, has diversified its economy beyond oil by investing heavily in sectors such as tourism, real estate, finance, and technology. Dubai, in particular, has become a global hub for trade, finance, and tourism.

Qatar: Qatar has leveraged its natural gas reserves to become one of the world's leading exporters of liquefied natural gas (LNG). Additionally, Qatar has invested in various sectors, including finance, real estate, and sports, to diversify its economy.

Singapore: Although Singapore does not produce oil itself, it has established itself as a major trading and refining hub for oil and petroleum products in the Asia-Pacific region. Singapore has also diversified its economy into sectors such as finance, shipping, biotechnology, and tourism.

Malaysia: Malaysia has developed a diverse economy, with thriving manufacturing, services, and tourism sectors alongside its oil and gas industry. The country has also invested in infrastructure projects and technology to support economic growth.

Netherlands: The Netherlands, home to one of Europe's largest natural gas reserves, has invested oil and gas revenues into developing a highly advanced economy with strong industries in agriculture, manufacturing, trade, and services.

These countries serve as examples of how strategic planning, prudent investment, and diversification efforts can help mitigate the economic risks associated with dependence on oil revenues. By investing in other sectors and fostering innovation, these nations have been able to thrive beyond their oil wealth.[/b]

Bobloco:


https://dailypost.ng/2024/02/09/supply-shocks-hyper-inflation-cause-of-hunger-hardship-cbn-gov-cardoso/

festacman:
In his address at a well-attended public hearing, the apex bank boss attributed hyper inflation to organic food shortages but added that the government was addressing the menace through fiscal policies which may take time to work out.

You can't address the problem of food shortages through fiscal means. You counter food shortages by producing more food. FG must devise ways to facilitate production of more food by applying innovation in protecting farmers and their farms as well as bringing more lands under cultivation in the coming farming season.

By the way the CBN Governor's speech is all over the place. Said so much without saying anything that looks like a solution to current economic crisis.

We need a holistic economic plan while the current adhoc measures are implemented.

festacman:

By the way the CBN Governor's speech is all over the place. Said so much without saying anything that looks like a solution to current economic crisis.

We need a holistic economic plan while the current adhoc measures are implemented.