News reports $1=280naira & could hit 300. And the people scream Diversify! Diversify!! But let's look @ the full picture! Few months ago, our agricultural products were banned from the European union because it didn't meet the standards for human consumption. Over 50 of them!!!
It was said that the use of pesticides on it was much that it was harmful for human consumption. Whose fault ? Ans = SON(standard organisation of nigeria)
Of what use is it, exporting local produce when it will only be rejected! Will our Govt throw them? Mba nu.:-P It'll find Its way back to our market & we'll consume what the world has deemed Harmful.....then in our myopic mind; we say boastfully "Disease no dey kill black man",lol
If the foundation (SON) is faulty, Diversification as an alternative to Oil dependence is Dead in the water.
#chukzy

Well said!! But like u probably suggested diversification in itself is a potent antidote for dis economic mess if only our agencies will start doing their work.. Sighs!!! Nija no go kill person

who is afraid of a diverse economy?

@ efembaba; Yes its an anti-dote but with the little exports we'v been having, how well are they received abroad. You cannot start diversification when there are little or no labs for the SON to do their jobs effectively. You cannot Put the cart before the horse, its the other way round. Our agencies have to be well equipped before moving to diversification.

Diversification itself is not a bad idea, like the comment above me stated, if only our agencies and ministries can rise up to their responsibilites is when we will begin to get result. Imagine who could have though NCC has teeth to bite hard into the fleshy abdomen of MTN with a world record of fine to the tune of N1trillion. Just like one will expect NERC to fine DISCOS for hoarding prepaid meter and extorting gullible nigerians with exorbitant bills without commensurate electricity supply.
To me politicians are the enemy of the people, this explain the lackadaisical attitude of the government toward taking some bold steps to reduce wastage and increase her revenue. The continue demand from the political elite is putting unnecessary pressure on the President, and if care is not taken the popularity he enjoy among the masses will have wane away by the end of 2016.

What is wrong with our policy makers? What is so difficult in transforming your natural resources to the betterment of your people? This morning, the queue in filling stations in Abuja calls for question the sincerity of the government to end the perennial suffering of the people who could not get petroleum product that its value is almost equal to a table water in international market.
.
What stops the president from leading by example, servicing 10 presidential jet at 2.5billion during this austerity should not be heard in the camp of party that promise change. A lot more could be done to galvanise the people toward change but the government, the party, the president needs to do things differently, they are running out of time and we are running out of patience.

Diversification still remains the future..
If our products are rejected by the EU, all we need to do is go back to the drawing board and get things right.
Like th e poster above, we could do like the chinese. Ban all imported items that can be easily made here, improve our quality and standards of operation...In no time, we will improve our economy while decreasing our reliance on Oil.

KingMEXX:
Diversification still remains the future..
If our products are rejected by the EU, all we need to do is go back to the drawing board and get things right.
Like th e poster above, we could do like the chinese. Ban all imported items that can be easily made here, improve our quality and standards of operation...In no time, we will improve our economy while decreasing our reliance on Oil.

I agree with you but some of these things are already in place. On the Nigerian customs website, there is a list of prohibited goods to be brought into the country. Its not like people cannot produce them here but the cost of doing business here in very costly! Our Gdp translates to what's on ground. Manufacturers can't keep up with Increasing fuel price & lack of basic amenities like security & traffic issues, hence Importation seems a better option! In reality for example, its cheaper to Import tomatoes from china than produce yours here in Nigeria. Infact you'll agree with me that some materials are cheaper to do overseas than In nigeria. So before diversification is applied, so many things have to improve! You cannot outrightly place a ban on certain products but you can discourage the act by Increasing Import levies and favouring local producers......Unfortunately the opposite is the case, as our govt lifted the ban on rice importation few months ago.

Kelklein:
If we can diversify the Chinese way (restrict importation as much as possible and force local consumption)...the economy will be better for it


But as long as we keep bringing in Toothpick at N280/$..I'm sorry for us!

100000 likes but will our people listen? imagine our people creeping or should i say sneaking into Benin republic to smuggle raw tomatoes into the country claiming that the tomato is better and rich in nutrition " cause its grown in France.