Sunday Adelaja's Blog NIGERIA @ 58: THE HOPE FOR NIGERIA’S ECONOMIC FUTURE {Part 6}

National transformation, Nigerian Affairs

NIGERIA IS NOT DOOMED, WE HAVE A GREAT FUTURE!

What are the other means of earning foreign currency apart from oil and the previously mentioned points?

Nigeria could follow in the example of India that is having a huge percentage of their GDP coming from IT specialists. We could put money into encouraging our young people to study computers and convert all those people who are now engaged in internet fraud to use their skills for legal computer expertise that could become a big source of foreign exchange earning to the country.

I personally believe that the new Nigerian government should do what President Obasanjo did by identifying macro business men who are able to lead multinational companies. Nigeria needs to intentionally begin to raise up multinational companies that would be able to build products across all continents of the earth. Companies like McDonalds, General electric, General Motors, Hilton Hotel, Coca cola, Microsoft, Apple, etc. the only difference is these companies will be coming from Nigeria.

Dear friends, the point that I am trying to make in this week’s article is that, we should see Nigeria and her economy the way it is. I am not saying we should paint a picture that is not realistic or tell lies about our prospects. But I also don’t want us to reduce our significance and potentials through inaccurate statements and utterances.

In the world today, Nigeria is seen as an emerging market country. It is estimated that between now and 2050 Nigeria would be the number one country in growth rate of the economy. Standing a good chance of overtaking countries like Britain, France etc.

It is important that all Nigerians know that thanks to the economic policies of President Obasanjo’s regime from 1999 to 2007, Nigeria’s economy is no more 75% dependent on oil. Yes, our foreign exchange earnings are still 75% dependent on oil but we can fix that. That is what I am trying to point out.

It is important for me that Nigerians speak the truth about their nation, because if they are only hearing negatives and evil reports about the country, the natural response would not be to stay and build, but to escape and run away. There would also not be incentives for the diaspora to want to come back.

This is especially important now for Nigerians to get the right picture of their country and her prospect in global economy, knowing that there is presently a big dip in the prices of oil. Some Nigerians may begin to panic thinking we are doomed as a nation, because of the fall in the price of oil. No, no, no, we are not doomed. Oil is only 8% of our economy. Nigeria has a great future, with or without oil.

For more information on how Nigeria’s economy can become the best in the world check out the book I published on the subject titled –