The Federal Government is trying hard to diversify the economy; but the summary is that whatever it has done and is currently doing, has yet to materialise. I am sure the results will soon show.

For instance, I am aware of the recent policy regarding tariffs. The reduction in import duties on some items is aimed at encouraging local production and it is expected that this policy will take some time to materialise.
Government should pay more attention to how we can begin producing more of what we need locally, especially food items. That is where agriculture becomes a key factor in every effort to diversify our economy.

On agriculture, I think there should be access to funds with a single digit interest. We should also promote local production of essential raw materials, such as maize and soya, on a large scale.

Yes, the tariff reduction will have a great impact on the economy. There is zero per cent duty on agricultural implements, cement, hospitality, power, iron and steel, solid minerals, and textiles among others, which would help to beat down the prices of imported machines needed for local production.

If our crops are produced to meet international standards, it would boost export and we will generate more foreign exchange. However, the truth is that we can’t even meet up production for local use now, so our efforts should be on how to increase production.

The Federal Government should concentrate on specific crops for production. An example of this is rice. The collaboration between Lagos State and Kebbi State on rice production is highly commendable and this type of collaboration should be encouraged. •Mr. Olalekan Badmus (Managing Director, Tuns Foods and Agro-Allied Limited)

We are not doing enough to diversify the economy. If you want to diversify the economy, you need to have a plan. Where is the plan? You have to have a priority area, stating what you want to do and how you want to go about it. Has this been done?

Sadly for us in this country, we have had several missed opportunities with regards to diversifying the economy by developing agriculture. We have the advantage of arable lands and several river basin development authorities with this we can produce food and cash crops all year round; but we have not taken advantage of this.

We still rely on rainwater farming. If we add irrigation farming to this, a substantial part of our problems in this area will be solved. If we are able to develop our system of agriculture, we will not only have enough food for consumption and export, we can also develop power and provide jobs for our people, thus improving the earning capacity of our people for the good of society.

We could have used money generated from oil revenues to diversify the economy, but that is going to be difficult now that oil revenues are down. • Tanko Yakassai, (Elder statesman)

Source: http://punchng.com/government-enough-diversify-economy/

No. Confused government

yes na...

unfortunately there will be many top bussiness men that will loose if FG succeed thus many sabotoirs

Goldeno:
yes na...

unfortunately there will be many top bussiness men that will loose if FG succeed thus many sabotoirs

time will tell

wHyyyyyyyyyY:
No. Confused government

hmmmmm