Welcome to 9jasalary News & Business Blog: Agriculture Entrepreneurship is the only way Out of Recession in Nigeria.

Agriculture Entrepreneurship is the only way Out of Recession in Nigeria.

Peter osalor
We are faced with realities that oil can't do it alone
Anymore, going by means of the current oil price. It's miles obtrusive that
Nigeria does no longer produce oil without delay. We do it through joint
Assignment styles like exxon mobil, shell, chevron, and agip.
Their production price in step with barrel is set $20, after
Deducting manufacturing price, the income are then shared 60:
Forty among nigeria and the oil essential. At $one hundred/ barrel, with
A production value of $20/ barrel; the gross income left the oil
Groups deduct their cost via $eighty in keeping with barrel, which could
Then be split between the agencies and nigeria at 60: 40
Ratio. Because of this at $a hundred in keeping with barrel nigeria receives approximately
$48/ barrel (60% of the $80 gross income according to barrel) which
Translates to about $40 billion according to year.
At the modern-day oil rate of $30 in line with barrel, the gross income is
Only $10 per barrel after deducting the $ 20 consistent with barrel
Production price. Take into account that nigeria takes handiest 60% of
The gross income. What that means is that nigeria gets $6 in step with
Barrel, which translates to about $five billion in step with 12 months at 2.Three
Million barrels per day.
Shift from oil dependency
The financial situation of nigeria due to this is in a
Dilemma. In which can we pass and what we could do? That is the
Query thousands and thousands of nigerians are asking. The solution to
This question is a shift from oil dependency to agriculture.
Our entrepreneurs and authorities should cognizance their
Investment on agriculture.
Nigeria spends approximately $10 billion a yr at the importation
Of agricultural and forest products. This is approximately 19% of our
General imports. At the same time as it's far noble for the buhari government to
Be making the case for nigerians to appearance inwards, speak on my own
Will now not do the activity. We cannot cast off the $2.2 billion according to
12 months we spend on animal products and derivatives if we depend
Completely on fulani herdsmen that should stroll throughout the
Whole usa looking for grass for his or her livestock.
We cannot dispose of the $1.5 billion in keeping with 12 months we spend on
The importation of wheat on my own if we do no longer resuscitate this
Area. Wheat farmers in northern nigeria can produce all
The wheat nigeria wishes if the policy is enacted to help
Them by way of introducing varieties which could beautify yields from
The contemporary 2 tons in keeping with hectare to worldwide benchmarks of 4-five
Heaps according to hectare. Financing needs to be supplied to the
Farmers to assist the mechanization in their farms.
The authorities will must step in albeit quickly, to
Create marketing boards on the way to assist establish marketplace
Exchanges in order to make sure that farmers are matched up
With consumers. Rather than developing “grazing corridors”
Across all of nigeria because the agriculture minister currently
Introduced, nigeria ought to be running to mechanize and
Commercialize the paintings of fulani nomads. The nomads
Roam the u . S . A . Looking for grass for their farm animals. But,
Grass can be farmed 12 months-spherical alongside the banks of the
Niger and benue, in northern nigeria. And people hundreds of thousands of
Kids that the authorities plans on giving n5, 000 in keeping with
Month as unemployment payments may be gainfully
Deployed to help these agricultural tasks.
If our marketers and teens are involved in agriculture
With the full help of presidency both at federal and country
Level, the economic system will boom, there could be jobs, meals for
Neighborhood consumption and greater for export for foreign
Trade era.
States do no longer want to depend upon government on my own to
Generate sales to pay employees’ salaries and execute
Development tasks. They want to invest more in
Agriculture; the security vote they obtain each month can
Be diverted to this project. We made mistake before to
Sell off agriculture for oil, we need to not permit that mistake
Repeat itself again.

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