Dwindling Oil revenue and our economy is shaking. USA cuts their Oil importation with Nigeria,. Ghana is about to reduce theirs, Oil price is dropping very fast, and we are still shaking the ONLY feasible way to save our economy and be stable is to start making serious plans to utilize our natural resources. Imagine Nigeria utilizing 80% of their crude locally by refining and exporting the finished products while making it available at low cost to Nigerians. Imagine Nigeria focusing on our Iron Ore and start exporting instead of playing politics with it, using it for local productions and exporting? Imagine if we can go back and explore our Coal deposits. Imagine if Nigeria can focus on our natural agriculture like Palm Oil and its derivatives, Cocoa production, Cashew and groundnut, Poultry and fishery etc? Imagine if we our power system stablises. Imagine if we the likes of Adapalm and AVOP is revived? we talk about sustainability and survival, employment and value chain, we are chasing it the wrong way. we must use what we have to rise and not depend on exportation ONLY. Our population is enough to buy everything and generate immense revenue, if we are sincere. The ONLY way is to move all these controls to private sector, from Refinery to agriculture, etc. As Oil price dwindles, revenue residues, USA has stopped importation, Ghana is cutting down on importation of our Oil, we cannot continue to depend on Oil and expect sustainability!!!!! we have all it takes to remain on top. We must run a high private sector driven economy that comes with enormous value chain and wealth creation, equitable distribution of wealth, we must make the center less attractive. The Oil money at the center is what is causing all this dichotomy and power struggle. we know what we can do, the problem is we lack the right leaders and we are playing too many politics with everything. Over dependency on one thing can finish any institution because when it sneezes, everything stops. Time is now, we can still do it. I believe GEJ has started that journey, and its the reason i want him to finish it off
Posted on: Wed, 29 Oct 2014 13:03:49 +0000
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