DIVERSIFICATION, A TOOL FOR ECONOMIC DEVELOPMENT.

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From the oxford Advanced Learner’s dictionary we will consider the meaning of Diversification, tool, Economic, then Development. Diversification means to develop a wider range of products, interest, skills etc. Tool depicts instrument or anything that helps you to do your job or to achieve something. Economic; this is connected with the trade, industry and development of


DIVERSIFICATION, A TOOL FOR ECONOMIC
DEVELOPMENT.

 From the oxford Advanced Learner’s dictionary we will
consider the meaning of Diversification, tool, Economic, then
Development.
 Diversification means to develop a wider range of products,
interest, skills etc. Tool depicts instrument or anything that
helps you to do your job or to achieve something. Economic;
this is connected with the trade, industry and development of
wealth of a country, Development means a gradual growth of
something so that it becomes more advanced, stronger and
reliable.



 Having been enlightened about the Salient phenomenon
embedded in this essential topic of discuss it is pertinent to
take our minds back to the 1960’s when each region were
autonomous in the diversification of natural products They
were blessed with. At that time we could see in the west the
great cocoa house, the groundnut pyramid in the North and
palm plantations in the East. Using agriculture as a case
study and other segments That Nigerian government should diversify into, Agriculture accounted for well over 50% percent
of the gross domestic product (GDP) at attainment of Nigerians
independence.



 Before the pre-colonial time when crude oil
had not been discovered Nigeria utilized the ‘Simple resources’
they were blessed with in different regions and we grew in our
export rate and because of the attention given to different
products in the various regions, there was balance of trade
were export equals import. But with the discovery of Crude oil
by the white men (Colonial Masters) we became Isolated to
Crude oil that in turn created a Lacuna in our economy and
turned other productive feats to habitation for endangered
Species.


 It is already a known Phenomenon that we all are
sitting on the cake of economic gun power and the resources
which is (Crude oil) that we are depending on is ‘elusive’ it can
no longer drive the National Vehicle, our country and its
economy is running into deficit; A time were we do not have
any option but to deliberate on selling our National asset. I
remember those times when I sat with the aged and they are
glorious stories told about how cars were presented to them at
attainment of their degree from the higher institution, a time where value was on our currency; a time were transport
system was cheap in coins, A time were citizens get dividend
for the service to their country. but all we see now is poverty
at its peak, Molestation, killings, Insurgency e.t.c. and all this
things are linked to economy problems, for instance the
uproar of the Niger deltan’s is as a result of their economic
situation and marginalization.



The social vices we see such
as killings, Kidnapping is as a result of our economic situation
that was caused by the indecisiveness of diversifying the
Nigeria economy.
 However with the appalling an devastating state of the
economy there is still hope and the solution is Channeling our
energy into other sectors other than the Oil sector. we have
the iron ore in Ajaokuta in Kogi State, in Ekiti, we have Kaolin,
Feldspar, tatium, granite syenites that can be greatly utilized,
in Yobe we have the Diatomite, Soda Ash e.t.c in Kaduna we
have Saphire, Kaolin, gold clay, rock Crystal e.t.c. we have so
much of natural resources to diversify into rather than the
crude oil.



 With the diversification into Agriculture in the 1960
Agriculture employed 75 percent of the labour and a lot of
establishments were made and also a boost to the input on the
G D P of Nigeria and so many benefit we are enjoying in our
present day like the Obafemi Awolowo University, the Nnamdi
Azikwe university and the Ahmedu Bello University was as a
result of diversification, it is with this I write down the
invaluable word of Samuel lover that said “Circumstances are
the rulers of the weak but instrument to the Wise’’. So lets
come together as government, citizens institution and
understand the urgency of diversification and give suitable
enactments that will foster this drive, and as embedded in the
last verse of our National Pledge ‘’to uphold her (Nigeria) honor
and Glory so Help us God.

EDEH JERRY

  • 08135236791.

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Education Technology: DIVERSIFICATION, A TOOL FOR ECONOMIC DEVELOPMENT.
DIVERSIFICATION, A TOOL FOR ECONOMIC DEVELOPMENT.
From the oxford Advanced Learner’s dictionary we will consider the meaning of Diversification, tool, Economic, then Development. Diversification means to develop a wider range of products, interest, skills etc. Tool depicts instrument or anything that helps you to do your job or to achieve something. Economic; this is connected with the trade, industry and development of
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