Opinion: Partners for Developmental Revolutions: Youthocracy by Ekpa Stanley Ekpa

Myriads of theorizing upon predictions, Africa is gradually earning a swelling reputation for over romanticizing ideologies than taking bold actions to concretize her developmental fortunes. And whereas in climes where development is done than said, leaders forecast the positive impact of development on successive generations; in jurisdictions where development is preached, every rhetoric of UN, IMF, World Bank is reechoed, while we wait for Macron or Obama to win elections, or for U.S., Japan and Russia to monopolize the outer space before we begin to chant in plagiarism 'yes we can'.

But it will be uncharitable to hold that there is nothing progressive and developmental about the African continent, it is rather apposite to x-ray the pace, innovativeness and committed sincerity in actualizing meaningful development in Africa and the significant roles youth must play in the path to Africa's renewal. The truism that youths are the trustees of a nation's peace and prosperity begets the the socio-political concept of 'Youthocracy'. The idea that young people with transcendent credentials of entrepreneurial and leadership savvies, competence, patriotism, and globally liberal can re-engineer societal progress, development and peace. How then can youth's resourcefulness: intellect, energy, resilience, aspirations, time, vigor and hope be harnessed to proffer sustainable solutions to mankind's demanding challenges?

Turning against astonishing odds, young men and women globally are becoming increasingly involved in reshaping the affairs of their nations and the world. This must not be seen as an age war against the older generation, but a strategic societal partnership to translate youth's resourcefulness for social justice, peace, sustainable development and security. From Former U.S. President Barack Obama to Canadian Prime Minister Justein Trudeau, to the eloquent David Cameron of Britain, to Prime Minister Alexis Tsipras of Greece and President Emmanuel Macron of Franc, the narrative is gradually dispelling all doubts of youths' leadership capacity and capabilities.

There are legion of legal framework for youthocracy scattered all over different jurisdictions which are not limited to the International Covenant on Political and Civil Rights; Article 12 of the United Nations Convention on the Rights of the Child; the Convention on the Elimination of All Forms of Discrimination Against Women; the African Youth Charter; and the Nigerian National Youth Policy (2009). In Nigeria, while the advocacy for the alteration of Sections 65, 106, 131, and 177 of the 1999 Constitution of the Federal Republic of Nigeria as amended, to reduce the age qualification for political offices through the Not Too Young To Run Bill gains momentum, it is apt for youths to deliberately design a broader possibilities for their strategic involvements in societal affairs and decision making for development. The problem is not solely with the current legal regime that places age limit for youth's participation in elective politics, but on youths playing relevant roles that sufficiently prepare them to run at the significant time. Obama started as a community worker and even with his Harvard law certificate he knew what he wanted and most appropriate moment for him; instead of the youth from minority ethnic nations to complain all day about the politicized marginalization of the minorities in Nigeria's governance structure, political wisdom demands of them to strategically reach out to other young people in other tribes and build reliable alliances across groups while trying to understand the thinking of the diverse ethnic nations of Nigeria and their cultural richness. Through this we can intermarry, build inte-tribal and religious confidence for trust and true friendship.

In our generation, the most enabling legitimacy for youthocracy stems from the state of underdevelopment in the developing world, fearful global insecurity, widening unemployment, absence of gender and social justice amongst other social ail. Because the disasters hit us the most and because we are victims of these social challenges, the onus lies on us to lead the drive to re-engineer mankind, our nations and societies through our high-tech, entrepreneurial and leadership savvies and skills. The creed of youthocracy enshrines essential ingredients in service leadership such as sophisticated intellectual capital; progressive ideologies; rare courage and strong will for bold actions; innovation and ideas that alter status quo, and abiding patriotism that defies greed and corruption. Youthocracy produces youth that recognize the impact of their academic learning and degree on development and the promotion of societal good or nothing else. Those considered apostles of youthocracy are imbued with the credentials of credibility and uncompromising life standard for excellence, possessing unique values for services, good governance, and selfless.

With youthocracy accepted as an essential lexicon for our progress, we must then proceed to shun all unnecessary expectations for miracle or magic development, developmental revolution will prompt real development in all sectors of Nigerian economy for all components of our federation through strategic innovation for lasting change. In my earlier piece titled 'THE DEBT OF DEVELOPMENT: YOUTH & DEVELOPMENT ON TRIAL', I wrote that 'the widening state of poverty, underdevelopment, ethnic and religious sentiments across national lines call for the Nigerian youth to take corrective measures to redefining and reclaiming Nigeria's dream and greatness. Our generation in leadership must imbue ourselves with strong and patriotic characters and values to build strong institutions; build our economy for global competitiveness; create newie job opportunities through sustainable economic diversifications; we will build our technological sector and find new scientific solutions to old challenges; we must reestablish a global educational system that really support entrepreneurial innovations and can harness the impact of university degree on development; we must reduce the cost of governance to cater more for the welfare of our general workforce; we can not afford not to build quality healthcare system to avoid travelling abroad for every little medical attention'. Youthocracy enshrines youth's governance in diverse sectors and not necessarily politics alone as against the current sole trade in desire of many people with the syndrome of 'quick-money-through-politics'. Young people must exhibit stellar leadership exceptionalities in political, corporate, religious and traditional institutions.

Youthocracy will enact shared volunteerism in governance, reducing the 'glamorousness' of our political culture and drastically cut the cost of governance to focus more on the welfare of workers for productive and social security than the welfare of few politicians. Shared volunteerism in youthocracy means that the young leaders have to sacrifice and share their major leadership entitlements for the common benefits of the generality of the people. The young leaders have to invest more in developing both the human capital of her people and the natural resources of the state for state development.

It is already out of fashion to keep blaming the old men at the exit lodge of our nation's affairs but even more woeful if our generation turns a disastrous liability obstructing our progress, integration, security and development just as most of our retiring leaders did. The relevant youth must therefore, proclaim his usefulness through the manifestation of his content for solutions to societal issues at all time. Define your life identity; register a business and start your entrepreneurial passion no matter how small if you are business inclined; participate in electoral process if you are qualified; join voluntary or pro bono community edifying engagements; support advocacies for common societal good. The truth is these things may not immediately make you rich but will certainly define your path to genuine success in life. My fear is however engaged by youth's excessive scrambling for materialistic honour and luxury which somehow is not a fault of a handful few. Make no mistake to misconstrue my opinion as anti-richness, for God forbid that we teach poverty as a virtue or an appreciable state of life but hard work, patience and legitimacy to success are familiar factors for good society. And matter-of-factly, the society's contributory negligence and failure to institutionalize social security largely push the youth to avoidable crimes with internet fraud as an average rich youth's rescuing career. And this is the case not becaus the youths naturally desire to occupy such huge criminal identity but for the unfriendly environment and lack of opportunity to actualize one's potentials and legitimately make ends means. There is however no acceptable excuse for criminality.

And because our future is nearly butchered to emptiness by greedy politicians, we must make haste to recreate a nation of new possibilities for our generation and hope for the generations after us by harnessing our demographic and voting strength, resilience, and intelligence in defence of our democracy and development. Though it is in the best interest of governments at all levels to ensure inclusive youth participation in major decion-making and development process of our nation, the stake lies more in the hands of the young people to rekindle they role in diiferent sectors of nation building from local governments to federal level. In our time, you will be certified a great man if racism, tribalism and religious fanaticism is not found in your attribute; you will be considered rich if you cherish ideologies that promote collective good against personal greed; you are exceptional if you imbue yourself with distinguishing skills, competence and capacities to save the world, for in all these shall mankind be free.

For the youths to make lasting impact, their may consider building sustainable partnerships both in business and politics as well as other endeavours of life. Partnerships produce assurance of results where individual strength could fail. Given the large scale of our socio-economic and leadership challenges, an individual's ideas and strength may not be sufficient to execute giant developmental investments, community projects and leadership initiatives, hence, the compelling need to combine talents, skills and fund for more prosperous results. This will enable youths to credibly start up value adding ventures legitimately with better prospects for greatness.  A readily instance is the All Times Law Partners projected to be Africa's largest legal partnership by 2025, offering clients expertise solutions in different aspects of law and leading in Africa's development transactions.

I love Nigeria my place of origin and the world's most naturally and humanly endowed Nation. The hope of making Nigeria great lies in the hands, heads and hearts of the youths. May God guide us aright to reaffirm our unalloyed commitment to the Partnership for Developmental Revolution in our nation. For certainly if we work faithfully through the valley of patriotism, then the promise of building an export, technology and knowledge based economy is assured; the dream of an efficient and corrupt-free institutions will be achieved; the reality of selfless service in governance will manifest; our infrastructures will be rebuilt to provide basic amenities for the common man; and surely our nation will regain our seat of greatness among the comity of nations.

So Far So Good - A National Review on Issues Affecting Nigeria

We can decide to make rants,  asking what could be the major problem of Nigeria and what our fifty nine years of independence has taught us? The reality in Nigeria has shown us the hard side of life with no remorse whatsoever.

You ask further - Could it be we are accursed? 

Without argument, it is said that predominant happenings in Nigeria are on the highly negative  side, giving lesser or no hope to an aspired future.  Going from the nature of social problems, developmental problems, economic crisis, political unrest, security problem, etc, we are certain that life itself has imparted a sense of adversity to Nigerian  citizens.

The major uproar now in Nigeria is the pandemic across the world affecting the four walls of Nigeria COVID-19. The pandemic came to Nigeria first month of this year and according to Nigeria Centre for Disease Control ( NCDC) the confirm cases has grown to four thousand one hundred and fifty one (4151) as at 9th may, 2020 with a discharged cases of seven hundred and forty five (745) and the death of one hundred and twenty eight (128) .

Does this speak volume of hope to the nation?

The lock down is another issue her citizen would not want to adhere to mainly because of the lack of trust she has on her leadership. During the first lock down, her citizen took upon herself through social media on the necessity of getting food on the tables as eighty percent of her population live on a daily income. The second lock down declared by the president on Monday, 13th April, 2020 opened the nation to insecurity problems as the AWAWA BOYS and ONE MILLION BOYS became the fear of the day.

What was the reason for the fear?

Why the cause of commotion?

To some, it was food. Some said it was the boredom and yet another came saying it was a political plot of the leaders to her citizens.  The issue is yet to be settled as the Ogun and Lagos States Commissioners released in statements in the early hours of the morning 13th of April 2020, saying it was just uproar and a false alarm by the citizen that the nation is at peace with her. However, the citizens would not have it as vigilante groups were formed at different areas in the Abule egba axis, Iyana ipaja, Sango, and Ogun environs. On social media, videos of apprehending the thieves were sent across to show what stay the country is indeed is. 27th of April of the year 2020 was another day of the delivery of the President's speech which reduced the tension of her citizen on the ease of the lock down on the 4th of may of the year 2020.

The issue which is predominant had shove every other problem that is faced by the country for now and the people strongly believe that this could be a sign of rest that the nation leader should take advantage of and give thought to solution and attention to problems of the nation.

Should we hope they make use of the advantage?

The pandemic also didn't leave the students out as academic curriculum is left to an halt due to lock down of public places and gatherings of more than twenty people. It has shown the level in full picture the level of our academic student. As social media which has been a major tool during this lock has it how patiently the citizens of the nation wait for current from the developed countries. Although, the reaction the citizen has is the fact that there might not be no pandemic which is just a general myth by the nation's citizen because of the level of interest of the government. The vaccine that was rumoured to be a possible cure for the for the affected cases was said to be tested in Nigeria pioneer by Bill Gates. The people went a full force in rejecting such act because of lack of trust and the reasoning of who among the affected countries beeds it the most?

The coming of the Chinese doctors is another issue that brings the lack of sincerity on the part of the government towards her citizen. On Twitter it was attend that their was no need of the doctors coming over, even while the doctor's of her beloveth country Nigeria gave their non approval of the coming if the doctor's it came as a shock when the minister of health on channels gave his talk on the government not knowing the coming of the doctors neither did the government invite them but they were a gift from a Chinese company.

Who are our leaders?

We may not say all is bad. We only have a positive position to all that is happening and continually say, "Where there is life there is hope"

Politics in Nigeria: Washing Dirty Linen in Public

The first answer you are likely to get from a person practising political apathy in Nigeria is that politics is a dirty game. It is a game of either you are here or there: a do or die affair. The Nigerian political space has not for long been associated with honour with politicians who do more to dent the image of Nigerians at the international scene - maybe a different type of political system is being studied in the first world countries. 

Politics, everywhere, is a dirty game, but these countries somehow know how to conduct themselves. For Nigeria, politicians only know how to display their show of shame to the public. Or how is a supposedly father and possibly grandparent caught on camera exchanging blows in the assemblies that are expected to serve as the law making house? Somewhat in 2016, the maze was taken when the plenary section was still ongoing by some senators. The budget of the nation was also missing in the National Assembly. That was unprecedented in the history of the country. I call these politicians 'yahoo boys' in 'agbada.'

The Economic and Financial Crimes Commission (EFCC) which was founded in 2003 by the then president, Olusegun Obasanjo is a Nigerian law enforcement agency that investigates financial crimes such as advance fee fraud (419 fraud) and money laundering. Although, in existence since 2003, we have seen only fragments of them as they perform, but not up to expectations. In 2018, it was reported that the EFCC had the highest numbers of concluded corruption cases with the Nigeria Judiciary Council (NJC).

As noted earlier, Nigerian politicians share a sibling-like relationships with corruption. On May 2016, the former British prime minister, David Cameron was caught saying on camera that Nigeria was 'fantastically' corrupt. This was not surprising as that was the impression that had been created by our politicians. In 2015, one of the campaign promises of President Muhammadu Buhari was that he would rid the country of the corruption syndrome. I must note that the war against corruption is not in anyway won. We have just being promoted from the worst to the bad.

When you think you have seen it all, Politicians with their clownish nature would find a way to 'amuse' you, full of tricks and stunts. Diepreye Alamieseyegha, a former governor of Bayelsa state was arrested in the United Kingdom on count charges of money laundering. Hours after his arrest, he escaped to Nigeria disguised as a woman. This was a criminal thing to do for a supposedly ambassador of the country. Though he was later arrested by the Nigerian government, but this singular act has already left a stain on the country's white garment.

Do not forget so easily the  drama Ayodele Fayose, the former governor of Ekiti state played with the EFCC. In 2012, the court ordered the closure of Fayose's two bank accounts with Zenith bank and also the forfeiture of some his properties because it was said to be acquired with illegally shared money by Dasuki, the then National security adviser. Due to his immunity as a sitting governor, he could not be arrested or charged to court. When his tenure was almost over, he made a promise to present himself to the EFCC's office. Yes, he did make himself present just hours after he handed over to Kayode Fayemi donned in a customised 'EFCC here I am' vest alongside his cohorts in PDP and some gullible youths. Many said his move was a bold one. Maybe, Or probably he was supposed to be pelted with stones.

Nigeria politicians have recently inculcated the habit of faking illnesses and diseases that had not manifested while they launder and stash away the nation's fund in foreign accounts. It is hard to forget so quickly the case of Allison Maduekwe who after milking the country dry was suddenly diagnosed of cancer at a time when she was supposed to face the music of her actions. The recent one was Maina who also suddenly developed a strange illness when his case was in court. His didn't hold any weight that much but because he was sentenced anyway.

In the words of Erstwhile President Goodluck Ebele Jonathan, he describes Democracy as a testament to the courage and resilience of Nigerians. As citizens of Nigeria, I think it is time we rose up from our slumbers and fought this corruption and its agent before it sinks us all.

Coronavirus and the Politics of Life

Since the Coronavirus pandemic has taken over the world like a raging storm with over five million confirmed cases worldwide. The disease which started in the later part of 2019 in Wuhan, a town in the Hubei province of China is said to be a respiratory disease and has claimed more than two hundred thousand lives in the world. It is a Severe Acute Respiratory Syndrome Coronavirus (SARS-Cov-2) and in its contracted form, it is COVID-19. The disease has made the world's economies to be on a standstill as most countries are either partially or totally locked down.

On January 30, 2020, the World Health Organisation (WHO) declared the virus a pandemic which needed international attention. A new name for the disease, COVID-19 was announced by WHO on February 11, 2020. Nigeria confirmed its first case of the disease on 27 February, 2020 when an Italian citizen in Lagos was tested positive for the virus. Since then, Nigeria has experienced a rise of the disease. As at May 7, Nigeria had a total of 3526 confirmed cases with 601 discharged cases and 103 deaths across 34 states and

the FCT

Right from the confirmation of the first case in Nigeria, government officials and politicians alike showed signs of irresponsibility. Many politicians started off playing politics with the virus without cares that the time was not right for any form of politicking going by the happenings in countries with far more developed health systems. Politicians downplayed the presence of the disease in Nigeria, simply calling it a hoax and that it was a well coordinated effort of the government to embezzle public fund. Days later, another case was confirmed by the National Centre for Disease Control (NCDC). 

As the cases rose, it began to scare well informed Nigerians, but the rise didn't stop these politicians from inciting the public against the government with plenteous rubbish. People, believing in the 'madness' of these politicians started demanding for the pictures of the Italian and others who were confirmed infected with the disease. This continued until Muhammad Abubakar, the son of the former president of Nigeria, Atiku Abubakar was tested positive for the virus.

As the World's Health Organisation (WHO) had declared the virus a pandemic with information and guidelines as the virus could be transmitted from person to person, one of the standard prevention procedures was that anyone who had visited any countries with confirmed cases of the virus should self isolate for 14 days upon return to their countries. Around early March, the Chief of Staff to the president, Abba Kyari returned from his Germany's official trip. On his return to the country, he was supposed to self isolate, but he didn't do so. He instead attended theKogi state governor's mother's 3-day Fidau prayer the next day. Some days later, it was reported that he had tested positive for the virus. Also, at the time when the virus had gained momentum in Lagos, PDP  held a rally in Ibadan, Oyo State where Seyi Makinde, the Oyo State governor was  quoted to have said that the PDP members were immuned to the virus. Three days later, a case of the virus was confirmed in Bodija, Ibadan, Oyo State and many days after, the governor himself confirmed he has tested positive for the virus through his social media handle.  This means that if we assume that he was a ticking time bomb when the rally was held, then, we can not doubt the reality of having a thousand cases in Oyo state at this moment to grace.

While the Sanwo-Olu Lagos State Government and the administration of the Federal Capital Territory (FCT) increased their testing strength as a way to curtail the spread of the disease, the northern states except Kaduna and Borno states did practically nothing to prepare for the advent of the virus in the state. The Kano state governor didn't lift a finger except closing the state's border, a move that was quite ineffective until the deaths in the state became alarming. Concerned corners thus raised questions at the time  as regards the lateness before actions were made.

Government and politicians once again showed cold hearts in the distribution of relief materials and palliatives which were intended to help reduce of the effect of the lockdown declared in the country. Lagos was first to roll out its plan to distribute palliatives which was  'hijacked' by politicians. Streets with over a hundred dwellers were given small sacks of rice, few tubers of yam and loaves of bread in the most ridiculous manner. The same happened in Osun state where a household was given a cup of rice and far as a governor who asked his citizens to buy 'gaari' if they didn't have the money to stock their homes. 

With 774 local government heads, 36 state governors (including the ministers of the FCT), 109 senators, 365 house of representative members and 36 state assemblies, shouldn't there be concerns about the welfare of those who elected them?

Nigeria has a track record of having one of the worst health systems in the world despite billions of naira that is being pumped to it every year. Instead of improving the health systems, government and politicians busy themselves with funds to embezzle. The Coronavirus has highlighted how weak our health systems are. Truth is, with the present health systems in Nigeria, we will be overwhelmed by the virus way before we reach ten thousand confirmed cases.

On a final note, the Coronavirus has shown how inhumane and incompetent our politicians are. It shows politicians are only interested in sharing the national cake. The coming of this virus should be an eye opener for leaders in power corridors and politicians alike to plan ahead for future possibilities.

Suicide: The Dissolution but not the Solution by Damilola Akinlolu

Suicidal thoughts have become a norm in our society, as many see it as the lasting solution to a temporary problem. Putting an end to one's life does not in any way put an end to the problem, rather it opens a new chapter of struggle which one has no idea of.

There are lot of cases in our society that have prompted people to end their lives, a news got circulated sometimes ago about a young boy who ended his life because he failed UTME(United Tertiary Matriculation Exam), another person ended her life because she was not given attention by her mother. Some suicidal acts are known to be impulsive due to financial difficulties, stress, relationship breaks or bullying. Other suicidal acts are quite unexplainable. People go to any lengths to carry out this action, the popular ones are by hanging (or suffocation), overdose, usage of firearms, drowning, pesticide poisoning and falls. When I hear people clamor for the ban on insecticides, I'm compelled to ask if insecticide is the only means of ending one's life. Rather than putting a ban on insecticides, why not let's address the issue from the root cause?

Overtime, the range of ages prone to this act is 15 – 30 years of age. Suicide has become the 10th leading cause of death worldwide. Depression, substance abuse (alcohol, hard drug …), bipolar disorder, mental health problems are risk factors. A common risk factor, depression, is a serious medical illness that negatively affects the way one feels, thinks and acts. 

During depression, people suffer in silence. There is this feeling of isolation and untrue belief that they’re the only one lost. This continues for a while or longer until they can’t take it anymore. At this point, the only escape route seen is death because the mind is in thick darkness. And in most cases, the easiest option thought about is suicide. Fake appearances and expression manifest in such individuals in order to hide the real issue at hand from every single soul around them. Even when help comes knocking faintly, they deny it and go ahead in betraying themselves. They think the solution has been fixed by them but they fail to see that their own death isn’t the death of the problem. The problem gets passed on to loved ones as guilt and regrets consume them up. The “what if?”, “had I known” and “I thought” damage loved ones left behind especially if they continue to blame themselves for the demise of a depressed being. They assume it were their fault for failing to see the frown under that smile, the sadness being covered by happiness and the inability to differentiate between real and fake.

To every depressed soul out there and every one already having suicidal ideations, suicide was and will never be the solution. Suicide does not solve the problem as the problem still persists. It even creates more problems for those you care about. Depression does get better when you come to the realization that there are a lot of positive things out there waiting for you find them and many positive ways out there waiting to be located by you. Be optimistic! The help and realization are not sudden but gradual. Don’t suffer alone. Speak to someone (a non-judgmental person), though it might seem the hardest thing to do. You can also meet your religious head if the need be. And in case you don’t have the above around you, there are hotlines of professional individuals or organization out there.

Editorial: Slaying Begins at Home

In our world today, the concept of slay queens means

Opinion: Nigeria- A Fulfilment of What?

If you are scared of the truth, turning back at this point may be the best thing to do. In reality, the truth is a bastard while the Lie has a father.

Growing up many years ago, I remember my home lesson teacher's assignment. The home lesson itself was a punishment, much more the assignment. This home lesson came not because I was "unbrilliant" but because I was practically stubborn
This day, my aunt had me write in my lesson note:
"Write an essay on the topic: Nigeria, an empty giant of Africa."

 

This was a strong and wide topic for a boy of ten years- I was about rounding off my primary school education. Obviously, I barely knew about life in my family, much more Nigeria save for the fact that things have changed in comparison to now- living conditions and standards.

Till today, that topic rings a bell. I choose to remember that there was anomie in the Nigerian state back then. Now, it's worse.

At a point, I felt nothing could be done to change things. This was not because of pessimism- I've always been optimistic as relates to Nigeria.

Now, thanks to change. I see something making that proposition in my lesson note invalid, thanks to the present administration. However, I believe that her campaign slogan was too wide... Change is nice, change is wanted but change is gradual...

Shout out to PMN. He is a wise man, going after the principle of "tell them what they want to hear."
However, I choose to utter: "Cursed be anyone who lies to the masses in the want of Votes"
and
"Cursed be anyone who for the taste of pottage, sells his birthright"

This piece is coming at this point in time because everywhere near me, an election would take place- My Faculty, my department, my University, my state and Nigeria as a whole. Let Nigerians make open their stand, don't be gullible, yet be wise.

In the words of my Father:
"Go to the ants, consider their ways and be wise".

"This piece seeks to address salient issues as concerns politics. However, any resemblance in the nominal is not purposeful."

Shifting the Base of Nigeria's Mono-Product Economy by Adeyeye Eyitayo

In 1958, Nigeria  joined the league of oil producing states in the world. Thereafter, production of crude oil became the major source of government  revenue with average production of 2.5million barrels daily. The economy of Nigeria has since then been moulded around  proceeds from crude oil to maintain about 65 -70% of  government revenue. It generates about 90 per cent of the country's foreign exchange earnings. Thus, the  discovery and production  of oil  pushed agriculture, the traditional mainstay of the economy, right from the early fifties  to the backstage. Alas, Nigeria neglected agriculture because of overnight money gotten from crude oil.

Several years down the line, the oil market  has suffered notable  setbacks, to wit, fall in oil price, fluctuating demand,poor regulatory regime and other market phenomena. It is safe to say that the instability  of oil price has been persistent  for a long while. Recently, the US Energy information Administration (EIA), recorded that Crude oil prices were generally lower in 2018 than in 2019. But with the outbreak of corona virus in 2020, the price of oil hit its lowest level in 17 years, declining from $59 to $28 per barrel within a month. As it stands presently, oil companies globally can no longer produce in full capacity. Nigeria is currently trading below the Federal Government's  benchmark in the oil market. Oil vessels are floating on the sea with no buyer, supply is now more than demand.

It is a public knowledge that the outbreak of Covid19 is such that is crumbling  economies of the world and Nigeria  is not an exception. As a matter of reality, the mono-product economy of Nigeria even makes it worse. Since the spread of the pandemic in Nigeria, the Government  has become restless and short of revenue options. The stay-at-home orders imposed by the government is leading the economy on a slippery-slope as informal businesses and companies have been shut down for weeks. Meanwhile, the most recent estimate puts Nigeria's  debt profile at N33 Trillion, still likely to worsen amid the steep decline in revenue associated with falling oil prices. Foreign Investors are now reluctant to hold naira-dominated assets as Naira would not stop falling against the dollar like the wall of Jericho. It was recorded that the  Nigerian Stock Exchange (NSE) lost ₦2.3 trillion in two weeks after Nigeria's index case. Little wonder the Federal Government had to cut down the 2020 budget from N10.594 trillion to N10.276 trillion.

The failure to diversify the economy  of Nigeria  will forever be a serious indictment on successive governments. It is the major reason why the economy remains so fragile and vulnerable to changes in external conditions, especially oil price fluctuations. Each of the past governments  deserves to be blamed for this. Nigeria is  endowed with several mineral resources and to think that her economy hinges solely on crude oil simply embarrasses logic. Given the present realities, diversifying Nigeria's mono-product economy is the only express way out of the looming recession. Creating several avenues and channels  of income generation for the government  is now a matter of national emergency and not just mere campaign manifesto. It is time, if not before now, to focus on mining and  agriculture. Needful to say that, through agriculture, the three necessities of life – food, clothing and shelter – are made available to man. China, Netherlands and USA remain the  largest producers and exporters of agricultural produce in the world. The truth is, demand for agricultural produce is much stable in the world market, given the ever increasing population of the world. There is a dire need for expand in production to meet this global demand.

 

Read: OAU Final Year Student Sentenced to Jail for Cybercrime

 

Nigeria is Africa's leading consumer of rice, one of the largest producers of rice in the continent and simultaneously one of the largest rice importers in the world. Nigeria ranks the largest producer of cassava in the world, with cassava production of up to 20% of the world. Nigeria also boasts of large scale cultivation of cocoa, peanuts, cotton, palm oil, corn, sorghum, millet,yams, rubber, just to mention a few.

 

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I strongly believe with purposeful  leadership, Nigeria can become the food basket of the world. We have the capacity, we have the population, we have all the resources that is required, which is the human capital and that is  the best that is needed. Only by so doing we can become an economic powerhouse in the coming years.



Adeyeye Eyitayo is a public interests enthusiast and lawyer. You can reach him at [email protected]