nairalanda1:


Simple, we use our brains like the chinese, germans, japanese, etc.

Lack of resources would make us resourceful

Every resource has a finite limit. IN the 1960's we were a world leader in tin production. Not anymore, because the tin has been mined out. Same thing for the oyel. Some countries have run out of oyel. We would one day run out of oyel.

Even animals use have brains and use them. Can we get an example of your suggestion?

Nigerian journalists go just collect news item from government and publish. No questions asked

LegacyB:

Even animals use have brains and use them. Can we get an example of your suggestion?

Simple

We use our brains to innovate and to make stuff like phones, computers, cars , etc

We do as the Chinese and Japanese and Koreans did and steal the ideas of the whites

And we let the free market do it's thing too. No more cheap power.

We can't rely on oil forever

Draslo:

Your grandchildren, even if they live for 100 years will witness Nigeria refining it's oil

The problem is, it is very likely that internal combustion engines would have ceased to be viable by then.

Nuclear fusion is slowly becoming a reality. Once that happens, we are screwed. Ditto improvements in solar power.

nairalanda1:


The problem is, it is very likely that internal combustion engines would have ceased to be viable by then.

Nuclear fusion is slowly becoming a reality. Once that happens, we are screwed. Ditto improvements in solar power.

You're right but I think Africa and a lot of third world countries will still depend on oil. Maybe in 500-1000 years, combustion engine could be a thing of the past because extended space exploration will require Nuclear fueling. Even then, there will still be poor people on earth that won't have access to nuclear energy

Mynd44:
https://punchng.com/oil-production-plunge-caused-by-pipeline-problem-fg/

In the final analysis, crude oil and gas value addition and better relationships with the oil-producing communities are the keys for a sustainable oil and gas industry.

nairalanda1:


NIgeria was not doing great before we found oil. Most of us were poor. Very poor. And if we had not found oil, we would have still ended up the way we are, because instead of using our raw materials and what we were producing to make products the world needed, we were just selling and selling and selling....and allowing others make big profits using our resources and so forth.

Problem with resources is the price is never stable. The same issues with oil is the same issue with palm oil cocoa, groundnut, cotton etc. See Ghana. Cocoa prices of recent never favour them, plus they just had a massive issue with diseases affecting the crop...result, they had to beg for more loans from world bank. At world bank conditions.

For Nigeria to do great we have to use our resources to make stuff the world needs, and export it. Not sit down behind some desk forming big man and using imported stuff that deplets our forex.

Succinctly put.

The bolded words have been my views as well for a long time. Value addition and disruptive innovation are the key to having a sustainable economic development. The person who's goverment (and political party) personified this disruptive innovation back in the 1950s to the 1960s was the iconic Chief Obafemi Awolowo, GCFR, SAN, the former Premier of the Old Western Region (which included the current Western Nigeria states, Edo and Delta States).