God works in ways that man cannot comprehend and in my opinion, the current low oil prices and subsequent poor income from the sale of crude oil in Nigeria is indeed a blessing in disguise.
I am not an economist, but merely looking at our current structure where we do nothing but import finished goods to sell is nothing other than DOOM in the making! We may postpone it through lies, propaganda or even borrowing to deal with deficits, but the fact is that a country that does not produce is bound to be broke.
What is the way forward?
Simple economics coming from a techie; produce as much as you can locally and find ways to export what you produce as well as ensure that your citizens consume what you produce. It is that simple!
Hereis a personal example. I grew up eating NASCO Cornflakes, but today my wife says it is not as crunchy as Kellog’s, which she buys for our children and I go… “but sweetheart; this is the cornflakes I grew up eating and I am not deformed.”
This is the irony of most homes. What my wife and many others, who crave for foreign goods that have good local alternatives, should know is that for each of such products we buy, we contribute to the killing of our economy and help such economies create jobs. If you want, say a company like NASCO to improve, then, you must support them to make good profit which they can use to grow and also invest in R&D.
Nigerians, patronise made-in-Nigeria goods and services, especially, food stuff that are available in abundance and with fairly good quality.
The Curse called Oil
As far as I am concerned, oil has been nothing but a curse and my prayer is that it goes and remains below $10. Maybe then and only then would we put our thinking cap on as a Nation and stop being a laughing stock in the comity of Nations.
We are a nation blessed with abundant human resources, (forget natural resources). it is time to use brain-power and create the change we all yearn for. Technology for example, can be used to get a minimum of 1,000,000 youths gainful employed + earning good foreign exchange that would help the economy grow. Sadly, our leaders cannot see it and, therefore, not willing to make the right investments.
What more can I say?
Buy local, eat local and help get Nigeria out of the current avoidable mess!