Nigeria’s economy vulnerable due to dependency on oil revenues – Speaker

The Speaker of the House of Representatives, Dr. Abass Tajudeen, says Nigeria’s economy would remain vulnerable due to over-dependence on proceeds from oil.

Speaking at a one-day public hearing on Bills aimed at establishing agricultural colleges and institutions, he argued that agriculture presents the most viable alternative to attaining broad-based economic resilience.

Represented by the Chief Whip, Dr. Ibrahim Isiaka, he asserted that it is within this context that the establishment and expansion of Agricultural Research Institutions across the country are not only necessary but strategically urgent.

The Speaker said it behoves Nigeria to emulate countries like Israel, Brazil, and Vietnam that have attained a significant leap in agro development by investing substantially in research and development.

To buttress his assertion, he said Brazil’s Embrapa, for instance, reengineered an infertile savannah into a global food hub, just as Vietnam’s targeted agricultural reforms pulled vast populations out of poverty, while Israel continues to innovate in arid-zone agriculture through technology-driven methods.

The Speaker remarked that Nigeria, blessed with expansive arable land, a youthful farming population, indigenous knowledge systems, and an emerging tech ecosystem, stands at the cusp of replicating and even surpassing such success stories if we act decisively.

The Speaker said he is firmly convinced that the passage of these Bills will invigorate our agricultural institutions by providing them with a robust legal and operational framework. Strengthening research centres will unlock new insights in crop production, pest control, and climate-smart agriculture.

He noted that expanding extension services will bridge the gap between research and practice, ensuring that innovations reach the grassroots, adding that enhancing farmer engagement will not only boost productivity but also lead to improved livelihoods, healthier soils, and rural development outcomes.

Chairman of the committee, Mr. Isiaq Abiodun Akinlade, recalled that in the 60s and 70s, the country was among the major exporters of agricultural produce such as cocoa, cotton, palm oil, and groundnuts, adding that after the discovery of crude oil, the lucrative sector was neglected due to dependence on oil because of its quick inflow of foreign exchange.

He argued that Nigeria, with a population size of over 220 million and still growing, is desirous of more agricultural colleges and research institutions that will help proffer solutions to issues, namely climate change, insecurity, pest outbreaks, soil degradation, unskilled labourers, and livestock management.

He expressed optimism that establishing more agricultural colleges and institutions will create jobs for teeming youths through its various value chains, equip students with modern, science-based agricultural skills in crop production, livestock management, agribusiness, and environmental stewardship, and create the enabling environment for the conduct of research to improve yields and enhance farming systems to meet global standards.

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