The private sector screamed when the Nigerian Labour Congress (NLC) demanded a $300 minimum living wage for Nigerian workers. Some states could not pay. The states go cap in hand to the Federal Government for allocations every month while they leave their rich vast mineral resources untapped.
It was in the news recently that Nigeria loses $2 billion yearly to under-explored cocoa industry. It is good that this revelation is coming on the heels of the 2024 International Cocoa & Chocolate Forum held recently where the Minister of Finance and Cordinating Minister of the Economy, Olawale Edun, and also the Minister of Budget and Economic Planning, Senator Abubakar Bagudu in attendance.
The country’s cocoa industry has continued to decline even though cocoa can be produced in 24 states in Nigeria with tremendous potential for growth.
The footdragging on restructuring must stop. The country’s forex earnings from cocoa, coffee, soya, timber, arabic gum, palm oil, rubber, cotton, groundnuts, cattle, hides and skin, gold and other minerals will help the naira to appreciate considerably and bring down the value of the naira with the dollar. This is a sure route to prosperity if we are not lazy. Nigerian leaders should kick-start the process of restructuring now if they love Nigeria. Anything else will spell disaster for the country.
John R. Jimoh, Mowe, Ogun State