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Showing posts from November 2, 2017

Five (5) Observable Reasons Why Nigeria Needs to Diversify Her Economy

INTRO: There has never been such consensus on any socio-economic and political issues in Nigeria as there is on the need for the diversification of Nigeria’s economy. This is perhaps because the consequences will know no bounds. Right from 1960s, about the time when a Head of State that ruled Nigeria was reported to have said that Nigeria had money but that the problem was how to spend it, through the very period when another Head of State that ruled Nigeria invited all African countries to come to Lagos with their idols just to dine and wine with Nigeria’s petro-dollars under the code-name FESTAC ’77, to the present 4th Republic, Nigeria’s economy has been a mono-cultural economy in which oil constituted 95% of the Country’s export earning, and 70% of the government’s revenue. Since then, there have been sincere calls for diversification of the economy by revitalizing for instance, the erstwhile neglected Agric. Sector of the economy. Now, one may ask, why does Nigeria needs to diver…