On numerous occasions, Nigeria’s depleting oil reserves have been extensively discussed as the unrelenting reduction without replacement has become worrisome.

Nigeria is blessed with abundant natural resources but the fact is the huge deposits of these resources do not corroborate with the level of development garnered since independence.

This shows that one does not need to be told that the monster called corruption is responsible. It means that wealth without industrialisation, and without probity will result in technological and economic under-development.

Yes, we have iron ore, bitumen, granite, limestone, marble, coal, clay, zinc, among others, but are we producing enough for local consumption and export? Are we effectively using our coal to generate electricity and liquid fuel?

Nigeria has a wide diversity of soil; the northern soil is good for the production of groundnut, sorghum, cowpea and millet. The interior zone made up of sand and clay soil is useful for the production of cotton. The southern zone is good for the production of crops such as cocoa, oil palm and rubber. Alluvia zones found along flooded plains of rivers, deltas and coastal regions can grow wheat, rice, maize, soya bean, cotton and the like. Our soil is great for growing all sorts of crops, so, what else do we need?

Being endowed with a plethora of natural resources is not a prerequisite for economic development. A case of Japan, a mountainous, volcanic island country that exports automobiles to all nations of the world comes to mind – her power of industrialisation, bears noting. Similarly, Singapore, with no or little natural resources shows the world how a tiny island can become one of the world’s most prosperous and advanced economies. Singapore had to import everything it needs, including water from the neighbouring Malaysia. Can we learn from it?

At the moment, there is a rising attractiveness of producing electric cars. From Europe to America to Asia. A majority of these advanced countries are considering a ban on the sale of gasoline-powered cars. If this happens, what is Nigerian’s fate on the sale of oil? The nominal Gross Domestic Product contribution of oil to the Nigerian economy may be as high as 70 per cent, for an import dependent economy like ours; the implication is grave. Oil companies may lay off workers, reduction in the sale of oil, and the country’s debt profile may increase. A huge sick government balance sheet looms.

Nigeria is not short of options but she is bereft of true leadership.  A leader who can guarantee security and safety of investors and stakeholders; a leader who can provide adequate power supply eluding us for decades, and a leader who can eradicate multiple taxation, as well as ensure that business is conducted in a transparent and ethical manner. Such a leader will also be expected to provide an enabling fiscal and regulatory environment for small and medium businesses to thrive, and ensure the country’s uncultivated soil is cultivated.

It is high time Nigeria diversified her economic base beyond policy pronouncements, to non-oil production and other untapped minerals.

Are Nigerians having a robust and concrete vision targeted at living without oil? The country’s paradigm shift, a diversification of her economy is fundamental if we must avoid the doldrums of sword of Damocles swinging. Then, when push comes to shove, Nigerians will be largely reaping the reward of her preparation

Herdsmen/farmers’ crisis: Buhari orders assessment of damage in Benue, others

President Muhammadu Buhari has directed the National Emergency Management Agency to commence an assessment of the extent of damage in communities affected by violence caused by herdsmen-farmers’ clashes in some parts of the country.

Vice-President Yemi Osinbajo disclosed this during the inaugural meeting of the recently composed Governing Council of NEMA at the Presidential Villa, Abuja

According to a statement by his Senior Special Assistant on Media and Publicity, Mr. Laolu Akande, the Vice-President presided over the meeting as the chairman of the governing council.

Osinbajo said, “Mr. President has directed that we do a survey and assessment on the damage done to towns, cities, communities that have been affected by violence in some parts of the country, including the farmers-herders’ clashes.

“NEMA will play a leading role in this and the Presidency will also provide direct support.

“We will involve the people in the affected communities, and not just bring people from outside these communities, in the rebuilding efforts.

“We will involve people in these villages, artisans and other people in the communities, with required skills so that they can also benefit economically as we rebuild these communities.”

Some of the states seriously affected by the herdsmen, farmers’ clashes include Benue, Plateau, Taraba, Zamfara, Oyo, Kogi, Ekiti and Ondo.

Osinbajo had on February 15 informed members of the National Economic Council that Buhari had approved the formation of a national committee to look into the rebuilding of communities affected by the violence in the affected states.

This, he said, was in line with the present administration’s commitment towards finding permanent solutions to the herdsmen-farmers’ clashes in some parts of the country.

At the Tuesday meeting, Osinbajo congratulated the new members and expressed the hope that the board would continue to be committed to the task ahead, adding that NEMA had been very visible in its role.

“NEMA has been taking on assignments even beyond its mandate. This is a responsibility that we must take seriously,” he said.

The Vice-President further urged the agency to devote more resources to public sensitisation regarding matters of emergency in the country and what the public needed to do in such circumstances.

Osinbajo added that NEMA should engage stakeholders more to participate in addressing its responsibilities, including the private sector and the Civil Society Organisations.

Members of the board include the Director General, NEMA; the office of the Secretary to the Government of the Federation; representatives of the Ministry of Transport and Aviation; Ministry of Foreign Affairs; Ministry of Health; Ministry of Interior and the Ministry of Water Resources.

Other members include representatives of the Nigerian Armed Forces and the Nigeria Police Force.

At the meeting, the Director General, NEMA, Mustapha Maihaja, made a presentation on the work, role and challenges of the agency.

Meanwhile, the Vice-President also on Tuesday received a delegation from the Oxford Business Network for Africa from the Oxford Business School, London, United Kingdom, at the Presidential Villa, Abuja.

Led by Mr. Bayo Owolabi, the delegation thanked the Vice-President for his role in Nigeria’s improved ranking in the World Bank Doing Business Report, while also commending the Federal Government for its efforts in improving the country’s economy generally, supporting the establishment of technology hubs in the country, among other socio-economic development initiatives.