How to diversify Nigeria’s economy, by Editors’ Guild, others

• Federal government restates committment to boosting agric sector

The need to diversify the nation’s distressed economy and free it from overdependence on oil is the crux of this year’s 12th All Nigeria Editors’ Conference (ANEC), holding in Port Harcourt, Rivers State.

Themed, Economic Diversification: Agriculture As Option For A Prosperous Nigeria, speakers at the event analysed how the country arrived at its current fiscal straits and proffered solutions on how to rescue it from the brinks.

Minister of Information, Alhaji Lai Mohammed, rehearsed failure by previous administrations to “save for the rainy day,” saying that is why the “economy is suffering so much, and the people are in pains.”

He noted that the country has suffered 60 per cent loss in oil earnings, as a result of slump in the global market, adding that the Boko Haram insurgency in the North East and agitations by militants in the Niger Delta have also worsened the state of the economy.

Mohammed, however, gave assurance that agriculture remains one of the major sectors the Federal Government is working hard to boost, with a view to improving the economy.

Rivers State governor, Nyesom Wike, commended the organisers for choosing an apt topic, saying the future is bleak as long as the economy is mono-product.

“I agree with those who hold the view that the economy is already diversified. What is not diversified is the export revenue base from oil to agriculture, which presently accounts for less than four per cent of Nigeria’s total export earnings and other viable sectors, like manufacturing, solid minerals and tourism.”

He noted that the challenges are: attracting critical investments into large-scale commercial agriculture, creating employment, growing the economy, providing food security and increasing export revenue.

Also speaking, former Governor of Delta State, Emmanuel Uduaghan, admitted there is national consensus on why agriculture should be the main area for diversification.

He said: “When we started Delta Beyond Oil, there were criticisms. But today, many have come to see that there should be ‘Nigeria Beyond Oil’. As a sitting governor, I was attracted to a community that said they could be the food basket of the nation, if they had good roads. I went to the area and saw that on both sides of the road were farms.

“I want to highlight the major problem we have today in the country. I believe the media can help us set an agenda to deal with it. Our people should accept that farming, agriculture is a means of economic success. We need a major mind-change. I grew up in a rubber tapping community. People were not hungry because we had farms. So, they were not easily angry and we were not violent. But now people are hungry, and it leads to anger and violence.”

In her address, the Acting President of the Guild of Editors, Funke Egbemode, said the association is determined to move the country forward through discussions on the theme.

She regretted that the salaries of many workers are unpaid, adding that with abundance of land, manpower and enormous endowment, a difference could be made through agriculture.