₦airaland Forum

J12:
Oil remains the golden egg till diversification begins to take place. We will still be able to sell our oil and gas resources. Global energy demand is very high as emerging economies become more industralized, they need energy.

The Nigerian economy is already diversified (although some sectors are yet to emerge and develop properly). Full development of viable revenue earning sectors will be very difficult because we dont have the resources and systems to enable the growth.
All we have now is oil, we should use it well. That should be our priority.

I respectfully disagree. The problem of this country is that oil has been our priority for too long and by now it's obvious that it is a misplaced priority. For over fifty years we have been depending on oil to the detriment of other sectors especially agriculture. What we could have done instead of spending the oil money away is to have reinvested it in other areas of the economy. Look at Dubai, see what they did with their oil wealth. If their oil should suddenly dry up today they can survive on tourism and retail because they reinvested in those areas. Nigeria has no long term economic plan. To continue as we have been doing all along is not a plan.

rozayx5:
If every region fends for itself Nigeria will develop faster

Fact of life

babadee1:
I respectfully disagree. The problem of this country is that oil has been our priority for too long and by now it's obvious that it is a misplaced priority. For over fifty years we have been depending on oil to the detriment of other sectors especially agriculture. What we could have done instead of spending the oil money away is to have reinvested it in other areas of the economy. Look at Dubai, see what they did with their oil wealth. If their oil should suddenly dry up today they can survive on tourism and retail because they reinvested in those areas. Nigeria has no long term economic plan. To continue as we have been doing all along is not a plan.

Is a disaster in making

God bless you

Unfortunately we keep pretending