Nigeria’s Economy: 5 Things That Could Be Done To Savage The Situation

Must Read

12-Year-Old Girl Dies Of Coronavirus In Belgium

A 12-year-old girl confirmed coronavirus (COVID-19) patient has died in Belgium, health officials announced on Tuesday.According to a government...

Sierra Leone Records First Case Of Coronavirus

Sierra Leone has recorded its first case of the new coronavirus.The government made this known on Tuesday, making it...

Coronavirus: US Regulator Approves Chloroquine For Emergency Treatment

The United States Food and Drug Administration (FDA) has approved the use of chloroquine and hydroxychloroquine alongside some other...

Coronavirus: Sultan Slams Muslim Clerics For Misleading Followers

Sultan of Sokoto, Muhammad Sa’ad Abubakar, has slammed some Islamic clerics over their non-adherence to instructions by experts on...

COVID-19: Lockdown By Buhari Is Legal, Says Osinbajo

Vice-President Yemi Osinbajo says the lockdown order by President Muhammadu Buhari on the federal capital territory (FCT), Lagos and...

The Nigerian economy is growing at a very slow pace at the moment and this is all thanks to the fall in crude oil price in the international market. The fall has affected government revenue and foreign exchange availability. A lot of patriots are wondering what could be done to  improve the situation. Well INFORMATION NIGERIA has just the right answers for you. Below are 5 things that the Nigerian people and government could do…

– Increase Export ASAP: The first step in the right direction is to make the Nigerian economy export oriented and not import oriented as it currently is. It could be commodities or services, anything to earn the much needed forex. This way we can to balance our import expenses.

– Create policies that encourages local production: The government needs to institute policies that will either increase Nigerian exports or reduce the reliance on imports and encourage local manufacturing. Raising import tariffs would be a start. Although this will be meet with stiff opposition from countries who survive on bringing goods into Nigeria, our leaders have to stick to their decision and discourage over dependence on importation.

– Encourage Nigerians to buy local: Nigerians should focus on issues like buying Nigerian made products and not always buying from foreign markets. Money made in Nigeria does not stay in Nigeria for long because it’s spent in other countries fairly quick. This doesn’t allow the Nigerian economy to grow.

– End corruption: One can help the state of the country by adamantly refusing to aid, abet, participate in or benefit from corruption in any form. The structural corruption in Nigeria is ultimately the biggest problem. This really prevents the government from being able to institute meaningful reforms.

– Quick passage of budget: The goverment needs to quickly pass this year’s budget so that government can swing into action.


Do you agree with us???

- Advertisement -


  1. All the above mentioned was quitely really, but how when, where did all these 5 things is too hardly to the nigerian leaders.


Please enter your comment!
Please enter your name here

More Articles Like This

- Advertisement -