₦airaland Forum

The past few years has been described by various economic experts
including former CBN governor, Charles soludo, as a boom in the oil
sector that we did not take advantage of. This period could have meant
development for us as a nation.
However, it seems another opportunity will come knocking in the next few
years, not just on the country's development but on the financial and
econonmic welfare of Nigerians and hence the growth of this country. I
do not have quotes but i know some of you would have read articles
talking about the now-becoming-expensive labour in china and some other
asian countries. When labour becomes expensive for producers, they look
for cheaper labour, hence the former source for labour from Europe and
the U.S.A, to countries like China and india. If these countries can no
longer provide cheap labour, that leaves African countries as the next
source of cheap labour. Nigeria comes to mind. This shifting investment,
if made use of will help effortlessly diversify our economy. I think
the president elect, when he gets to power, can help us by: 1) Revamping
the educational system: it has not been uncommon for foreign companies
to cite the 'unemployability' of Nigerian graduates and lack of experts,
to bring in their own labour from their country, hence, denying us
jobs, a better HDI and higher revenues. This can be handled by revamping
the educational system and positioning educated youths to be a major
part of the growing middle class that will result from increased capital
investments. 2) proper orientation and aids in the form of
loans and technological assistance to local producers. This will have
the effect of providing quality materials or resources either for export
or for sale to incoming and already present companies.
3) There should be at least a little shift from producing
primary products to secondary or even tertiary products. This will
enlarge our market structure and create more jobs for both literate and
illiterate. 4) Government should also lower taxes on incoming companies
and also not neglect the domestic side of the economy. 5) Also, other
states and towns have to be properly urbanized and ready for the growth,
so we do not have brazil's situation where the rich and middle class
are majorly in some states while residents of other states remain poor.
(Better even dispersal of the wealth). This would also help reduce the
overpopulation of Lagos and kano state and reduce the crime rate of the
country. 6) A strong financial institution should also be set in
place. We can help ourselves and our government by focusing on
studies and not criminal activities(for students), listening for capital
investments and then going about ways to make ourselves relevant to
these companies, making sure we vote the right candidates and demanding
for good governance. Please add your suggestions. Good morning,
Nairalanders! Seun Thomas.

These things take time and patience, something Nigerians don't have.

Steady power supply n low taxes on manufacturing companies.

Please what happened to the word paragraph?

You're on point...
PDP has put this nation into so much mess that it'l take time to clean up.
Anyways, thanks Op

Yungwizzzy:
Please what happened to the word paragraph?

Mr English, Take the msg, forget about para.

Yungwizzzy:
Please what happened to the word paragraph?

u observed right t d lack of paragraphs waz to make the article shorter, so pple will read it.