[b]INTRODUCTION:- [/b]Nigerian citizens are suffering due to the government failure to diversified economy from depending on oil sector alone to other economic sectors such as,
Ø Agriculture sector
Ø Solid sector
Ø Manufacturing sector
Ø Industrial sector
This is not only the problem that makes Nigerian citizens suffering. Another problem includes the economic factor, foreign saving factor. Furthermore, the Nigerian citizens have depended only on government which will all know that government alone cannot satisfy the need of its citizens. Because government was heavily depend on crude, petroleum export as the main source of foreign exchange, earning to meet its revenue.
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Now let’s look at the diversification from depending on oil sector to agricultural sector.
Agriculture holds the potential in accelerating the economic growth and development of several countries in the world. In Nigeria during the free and immediate post independence era, the economy was predicated on agriculture. It contributes 90% of the Nigerian development. Such as the rail ways, and most northern universities e.t.c.
Thank God the plant of the present government is to diversify the Nigeria economic from depending on petroleum to the agricultural section. Because, if we utilize our agricultural very soon Nigeria is going to be among the best countries in the world. In the process of diversifying from depending on petroleum, the federal government has try it very best in other to help the Nigerian citizen to utilize their agricultural activities. Starting from our state, Kebbi State. If you look at the development of

Kebbi state. During the present government process of diversification, we see that our state has now developed, within a short period of time. Kebbi state is now the leading state on the production of rice in the country. If someone may ask what make kebbi state, to be the leading state on the rice production in the country? I can say it is support of federal government, state government and the citizens of kebbi state, which comes together and utilize agricultural sector in the state. If Nigerian government diversified the economy in to the agricultural sector, it will lead to the increase in foreign savings and Nigerian citizens will get employment.
Again let us look at diversification from depending on oil sector to solid Mineral Resources. In other to reduce import, government may increase allocation to the solid mineral resources. This will lead to the increase the in government revenue and Nigeria citizens will be employed to get their own incomes. This will reduce poverty among people and government may save more money in to foreign account in order to hope favorable balance of payment, this will lead to the economic full employment or equilibrium point.
Furthermore, let look at the diversification from depending on oil sector to manufactural sector in order to reduce import of goods and services Nigerian government may increase the government allocation to the manufactural sector. If government increase allocation to this economic sector, it may lead to increase foreign earnings and millions of Nigerian citizens may be employed in to this economic sector, personal incomes may also increase. This will also reduce poverty among Nigerian citizens.

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NOW WHAT MAKES NIGERIA ECONOMY INTO ECONOMIC RECESSION AND INFLATION?
Ø Economic Recession: refers to the economic fluctuations which reduce government incomes, lowest investment and low foreign savings.

Ø Economic Inflation: Refers to the increase in general price level of goods and services of a given country or nation

WAYS OUT OR SOLUTION TO A GIVEN PROBLEMS THAT IS STATED ABOVE....


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