Why Nigerian Economy Is Growing Poorly

By - - [ Opinion ]

Nigeria is a country located in the subsaharan region of west Africa. This country is blessed with lot of Natural resources which were discovered before or right after she gained her independence. Nigeria is a multiethnic country with Yoruba,Igbo and Hausa as the 3 major ethnic groups. This country also has different religion that is being practiced by it's citizens ranging from Christianity to traditional worship. Since 1960 when Nigeria gained her independence, she hasn't achieve much as her roads in some regions in the country are still bad, no constant electricity in the country, inadequate social amenities,inadequate Joe opportunities for graduates and many more problems.

But if we observe carefully in this present day, most countries that are of the ruling economy in the world does not have as much resources as Nigeria but still they're far better than Nigeria reason being that the resources present in Nigeria are not efficiently utilized.

The problem Nigeria has is that it is a mono product economy in that She specialises in the production of a single commodity which is crude oil which is not supposed to be so. Even as she specialises in the production of crude oil, she doesn't generate enough fund from it's production.

Nigeria is blessed with rich and fertile soil. As at when she gained independence, the agricultural sector was the only sector providing for the economy but since the discovery of crude oil, this sector has been abandoned but if the government can invest in this sector, the economy of Nigeria should be able to grow swiftly.

 what do you think about this article???

Why Nigerian Economy is Growing Poorly - By Mr precious Onyekachi - 2019-09-25 08:59:32

Nigeria is a God blessed country with many natural resources that can make our country rich and also grow. But because of lack of good government or leaders who exploit our resources. Nigeria has be under develop country for years and now they are undevelop countries because no improvement rather there's decrease in economy.

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Why Nigerian Economy is Growing Poorly - By Akunafia Yasmin - 2019-09-25 09:19:50

The first and foremost reason why Nigeria is poor in economic growth is due to the fact that we haven't had good government and our resources are not well utilised by those who are in government.  All of our Nation's economy is centred under one sector which is the oil sector where is the educational and agricultural sector is being left behind

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Why Nigerian Economy is Growing Poorly - By Michael Abioye - 2019-09-25 09:30:08

Well I would say Nigeria is blessed with good resources unlike places like Dubai whereby they don't have good resources but yet we still go there to work. The reason why our economy is growing so poor is because of bad government, lack of sensitivity, corruption and favouritism. If all this are corrected I can assure you of a better Nigeria.

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Why Nigerian Economy is Growing Poorly - By Okunowo Boluwatife - 2019-09-25 09:34:49

This country keeps getting worse day by day. We don't have leaders, We really need to flush out those old people and replace them with the youths.

We are really blessed in this country, No disasters, No bad weather, Blessed with numerous resources yet we misuse all of them.

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Why Nigerian Economy is Growing Poorly - By Hammed Abdullah Adekunle - 2019-09-25 09:41:50

The economy is growing poorly because the people of power are actually concentrating and looting all funds to their own personal pocket and also not realising the efficiency of many other resources available in the country.

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Why Nigerian Economy is Growing Poorly - By Eda Daniel david - 2019-09-25 10:42:42

The economy is growing poorly because the area of concentration is wrong.  The government is not investing in projects that will generate funds for the country which will also empower people buh rather are concentrating on gathering looted funds.

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Why Nigerian Economy is Growing Poorly - By oluebube emmanuel njoku - 2019-09-25 11:01:13

Nigeria is richly blessed with natural and enough mineral resources and the rate these mineral resources are being depleted is alarming.

Agriculture happens to be the mainstay and sustainer of the GDP of the nation'' economy but the discovery of crude oil has done more harm than good.

There should be a reinforced policy on ''' go back to agriculture' and grants should be given to young graduates and farmers on the field of agriculture.

Thanks

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Why Nigerian Economy is Growing Poorly - By Miracle Nwanja - 2019-09-25 11:21:22

Nigeria, is actually blessed with many natural resources but bad governance is gradually pulling the economy of the country. The article was super great and the fact were straight. Imagine  since the discovering of crude oil, the agricultural sector had been dieing. Imagine we now import almost everything that we can produce in this country.

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Why Nigerian Economy is Growing Poorly - By Agbo Ephraim - 2019-09-25 11:33:33

Don't blame the poor economy on the having crude oil as our only means of income after Dubai, UAE had the same opportunity Nigeria had and they utilised well, our problem originates from the bad governance which has lead to corruption, mis management of government funds, looting, bad economic system and many other things that are hindering our nation

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Why Nigerian Economy is Growing Poorly - By Taiwo Itunuoluwa - 2019-09-25 13:06:45

Nigeria is really endowed with so much natural resources and humam power but our leaders has not been helpful at all with their own selfish interest ,The Dubai we all know today do not have 10% of what Nigeria have but their leaders were wise to maximize their resources and turn to a tourism centres,if our leaders are patriotic enough ,Nigeria economy will take a jet

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Why Nigerian Economy is Growing Poorly - By Gentle Friday - 2019-09-25 16:47:33

No any economy with poor policies will ever experience a good economy. The current policies by the present administration is not favouring the economy growth in Nigeria. When monies are withdrawn from the citizens and stock someone, it affected the flow of money in circulation. When salaries are not paid it also affect the circulation of money in the economy.

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Why Nigerian Economy is Growing Poorly - By Paul Raphael - 2019-09-25 18:28:30

The method of governance done by the government is one of the major reasons why Nigeria economy is growing poorly. This is because we don't know how to handle what we have properly and other countries are benefiting from us while we suffer.

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Why Nigerian Economy is Growing Poorly - By Ruth Oyeleke - 2019-09-25 19:57:10

The country is now trying to focus in agriculture , which is actually a major source of income to the nation like crude oil, an Agric summit was held few weeks ago in Abuja,  and you can see the passion that even women and young men are now putting into Agriculture.  Going back to agriculture,  things will definitely work out for Nigeria. 

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Why Nigerian Economy is Growing Poorly - By Shalom Michael - 2019-09-25 20:15:46

This is because the resources we have are been underutilized or even abandoned an wasted. The economy is not diversified so as to generate multiple revenue. The crude oil we had wasn't even fully utilized now its agriculture but they paying little interests. We have the resources but are not utilizing to its full potential that's why other small countries are doing better and our economy remains poor.

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Why Nigerian Economy is Growing Poorly - By Jejelola Olasimbo - 2019-09-25 20:40:06

Nigeria's economy is growing so poorly because we tend to spend more outside the country than we spend on our country. We are so blessed with so many natural resources but instead of making use of what we have here and being productive, we import things inside the country which is not right and cannot help the economy grow.

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Why Nigerian Economy is Growing Poorly - By Omosivwe Jonathan - 2019-09-25 21:54:23

Nigeria’s economy was doing better years back when our major source of revenue was our agriculture; but over the years with the discovery oil we totally diverting ignoring the fact that oil alone wouldn’t strengthen our economy better than it was. We became slaves for our own resources, importing things we already have whereas we should be exporting. This is one of the only things I’m thankful for with Buhari; atleast he started shedding a little light on our agricultural sector, with time I feel things will actually get better. 

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Why Nigerian Economy is Growing Poorly - By madali dumebi - 2019-09-26 02:31:37

first and fore most I will start by saying Nigeria is one of the most Godly blessed country with resources that are good and we even have oil more than the hole word,  God has blessed this country but the main major problems we are having in this country is our leaders,  but if  our leaders are able to control the situation of things in this country then I will be certain to say that we will make a good Nigeria but at all this thouts the only person who can help us with this wisdom is God so we pray he helps our country acquire the facilities we need in this country amen. 

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Why Nigerian Economy is Growing Poorly - By Abdulmaleek Habib - 2019-09-26 03:13:32

  The Nigerian economy will continue to remain poor if our country still imports all that we eat and dont develop what we have and consider exportation because we are blessed but instead of creating we prepare buying and that I'd one of the major factors of poor economy. 

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Why Nigerian Economy is Growing Poorly - By Luckru Bako - 2019-09-26 06:29:58

 Nigeria economy is growing poorer day by day because of our government the only do things for the are selfish interest the abundant the major thing that bursts the economy of Nigeria which is farming the only concetreat on the crude oil which is too bad and the can't even give soft loan to those that are willing to farm

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Why Nigerian Economy is Growing Poorly - By Ndukwe Blessing - 2019-09-26 11:00:35

Nigeria is truely a great country blessed with so many natural resources but d problem we are having in Nigeria today is corruption,  bad government inadequate infrastructure and low maintainance of our resources.

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Why Nigerian Economy is Growing Poorly - By Oke Olawole - 2019-09-26 20:20:37

Nigeria is a country been blessed with a lot of natural resources but our leaders are the main problem They must eradicate corruption before Nigeria can compete with other country like China and America 

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Why Nigerian Economy is Growing Poorly - By Aborode Peju - 2019-09-26 22:00:32

Nigeria is one of the countries in the world that is naturally blessed with natural resources and well as one of the most poorest countries in the world this is as a result of bad and inexperience leaders and corruption 

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Why Nigerian Economy is Growing Poorly - By Wasiu Adegboye - 2019-09-26 22:50:57

You are right for this great observation. And you tell the truth if only they can go back to Nigeria source which is agriculture everything will be okay more than this. But they only Base on crude oil of which is not supposed to be like that.

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Why Nigerian Economy is Growing Poorly - By Agewu Ayuba - 2019-09-26 22:56:11

It's because our leader are taking us for granted, looking at the issue of animals eating farmers crop in the farm because we're lake security in our society to day. Again no fertilizer enough for farmers so that they will apply it in their farm for more production.

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Why Nigerian Economy is Growing Poorly - By Jude Aguoru - 2019-09-26 23:31:44

Nigeria, a blessed nation with so many natural resources, giant of Africa. This country Nigeria, for the economy to boom and reduce the rate of hardship in the country,our leadership style needs to be changed. Our leaders are so corrupt,to the point that don't even think about the masses again and all they care about is their stomach.

If corruption is eradicated to a certain point,Nigeria will experience development in many areas and compete with many world powers.

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Why Nigerian Economy is Growing Poorly - By Dele-David Hephzibah - 2019-09-27 08:44:50

Everyone knows Nigeria is a blessed country and if she wants to top other countries, she would. Her only main problem is her leaders who are corrupt to the core and think about themselves and themselves only and not the betterment of the country as a whole 

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Why Nigerian Economy is Growing Poorly - By Damola Adekunle - 2019-09-28 05:22:00

All this countries we are saying they invest more on human capital than land capital itself. That's why you see them improved on the area of information technology than us.. we have a lot to do as a country.our unity is very important...

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Why Nigerian Economy is Growing Poorly - By Mercy Nwaimo - 2019-09-28 19:33:05

I totally agree with  you Nigeria is truly blessed but we are so carried away by foreign importation and forget to realized that if we decide to look deeply and work with our hrt and togetherness we will achieve more than the advance counties, 

If we put thisMine myself and I attitude we will sure make a great nation. 

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Why Nigerian Economy is Growing Poorly - By Etini Mbosco - 2019-09-29 12:28:40

Even with crude oil Nigeria would have been one of the best country in the world but the major problem is that we know how the extract and use but we don't know how to invest in what brings us what we are benefiting from. If we can invest much on other sector of our economy, our country would have been better.

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Why Nigerian Economy is Growing Poorly - By Veneshay Moses - 2019-09-29 13:30:01

It is very true that Nigeria is blessed an it is well known for her minerals. But one major problem we have is corruption, if we check corruption is practiced every where in this country even in elections. I'm sorry to say but we don't have leaders that are good enough. What we really need in this country is good leadership and not just good leadership but someone who is agile and willing to see this country grow. For example now take a look at the president properly, he always goes for treatment in expensive hospital, I'm not saying he shouldn't go for check ups and other important things, but what I'm saying is he is too old to run a country take it or leave it, Nigeria doesn't have a good leader that is why corruption will continue and it will take a long time to eradicate corruption

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Why Nigerian Economy is Growing Poorly - By Obaji Odinakachi Mbaba - 2019-09-29 15:53:19

Before Nigeria Start thinking of growing economy. They should first fight corruption and nepotism. They should first put quality education in place. They can then start exploring the natural resources God has given us.

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Why Nigerian Economy is Growing Poorly - By Dalhatu Halliru - 2019-09-29 21:26:26

The reason why nigerian economy is growth poorly is that ,the economic growth are concentrated among the already affluent and opportunities for the poor to escape poverty are reduced.there effect are further exacerbated by dependence on the oil section,which is estimated to contribute 75% of Nigeria's government revenue.

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Why Nigerian Economy is Growing Poorly - By IFEANYI NWOKEDI - 2019-09-29 21:28:25

A lot of challenges is facing Nigeria and leads to her stunted growth. Our Leaders,high rate of curruption, nepotism,tribalism, ethnicity, lawlessness and so on. We really need sincere and honest leaders.

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Why Nigerian Economy is Growing Poorly - By Adjekofori Faith - 2019-09-30 18:33:19

Again I say that whatever Nigeria is facing right now just like other countries like use is due to the lack of "will" by both the leaders and the people to channel and create right policies and institutions that will drive the economy from the grassroots without much focus at the centre.

In a situation where mkst states can't pay salaries without looking at the federal government just goes to show how deeply rooted our problem is

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Why Nigerian Economy is Growing Poorly - By Abubakar Sadeeq Salihu - 2019-09-30 19:07:36

The reason why our economic reports because I haven't answer was it the money he's heard of them to make the project they were giving her assigned you just take 70 and you start to finish the project but some women who do it to just finish it so well we need a change of government all of them scam and see a.m. stuff we don't want to know

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Why Nigerian Economy is Growing Poorly - By Nwafor Ujunwa - 2019-10-01 07:20:01

Nigeria is wonderfully blessed by Almighty God with rnoien resources to sustain name it Agricultural resources, Mineral Resources, Water Resources etc. But Our Bad Government exploits all without the welfare of it's citizens at hand. When the mineral resources started booming, we all abandoned Agricultural Resources which is the over all best. Corruption has taken over all Country that citizens now sees it as a normal thing. The Leaders in Power neglects the 'Will'. 

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Why Nigerian Economy is Growing Poorly - By Hammed Jide - 2019-10-02 19:33:55

Nigeria is not growing because we depend mostly on imported produced instead of to encourage local manufacturers to produce here so that there can be increase in employment rate and reduction in crime rate.

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Why Nigerian Economy is Growing Poorly - By Oluwaseyi Ajeniyi - 2019-10-02 22:29:15

Nigeria is a country full of milk and honey. So many natural resources are embedded in Nigeria. But I still can't understand where we are not yet in higher levels

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Why Nigerian Economy is Growing Poorly - By Emmanuel Omotoso - 2019-10-02 22:31:06

Yes this article is real, Nigeria is a blessed country and it has so many natural resources in it but were mis-use by our leaders, they never provide employment for the youths

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Why Nigerian Economy is Growing Poorly - By Jerry ifeoluwa Adebayo - 2019-10-03 11:51:53

Agriculture is very important in this nation, but government turn their back into it, for instance, Cocoa house in ibadan.. it means the building was built with cocoa money, why not go back to the old days? I think what is really happening right now, is that our leaders doesn't have plan before Independence.. all they care about is chasing white people, they has no solid plan... If government could at least turn a little attention to agriculture.. it will really help our economy.

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Why Nigerian Economy is Growing Poorly - By Rashidat Okinbaloye - 2019-10-04 21:17:25

Until Nigerians in government become Good fearing and patriotic,the economy won't be anything to write home about.

Bad governance,insecurity,corruption,favoritism,nepotism and tribalism have always been the order of the day and until we scrap all of this,the economy will not be stabilized.

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Why Nigerian Economy is Growing Poorly - By Adeola Ayomitunde - 2019-10-04 22:07:43

Nigeria was bless with mineral resources but God not give us good leader they are  always know the peruse.how husband will do governor for second time wife will contest for it,

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Why Nigerian Economy is Growing Poorly - By Dominion Ikeora - 2019-10-06 19:51:50

Nigeria is blessed..... I mean look at the numerous natural resources in just a country. No other nation can boast of as many sources of wealth as Nigeria the truth is that we are not willing to help ourselves. The government is full of corrupt people who think more about filling their personal purses rather than striving to move the country forward... I think this is one(amongst the others

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Why Nigerian Economy is Growing Poorly - By John Olamide - 2019-10-09 19:45:13

The reason for the bad economy is that Nigeria is over dependent on foreign goods and services than the one produced and rendered locally and there's hardly any form of exportation. This means that more money goes out of the country than the one that comes into the country. If we can fix this by promoting our locally produced goods and exporting our products to other countries, there will be a boost in the Nigerian economy.

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Why Nigerian Economy is Growing Poorly - By Eke Surprise - 2019-10-12 18:25:11

The primary problem i am sorry to say is the leaders in Nigeria.. They are very convecios and greedy that they don't know how to utilize and manage the resources at hand rather they steal and squander hard earned money in the country and don't make proper use of it.. That's why this country Nigeria is retrogressing at a very high and alarming rate. Therefore before there would be progress in this country we need a good and deciplined leader. 

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Why Nigerian Economy is Growing Poorly - By Eke Surprise - 2019-10-12 18:25:11

The primary problem i am sorry to say is the leaders in Nigeria.. They are very convecios and greedy that they don't know how to utilize and manage the resources at hand rather they steal and squander hard earned money in the country and don't make proper use of it.. That's why this country Nigeria is retrogressing at a very high and alarming rate. Therefore before there would be progress in this country we need a good and deciplined leader. 

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Why Nigerian Economy is Growing Poorly - By Chizuram Nwokoukwu - 2019-10-12 19:06:42

It is obvious that Nigeria is blessed with resources but we have failed to put them into use.  If we employ the necessary machines into agriculture our economy will boom. 

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Why Nigerian Economy is Growing Poorly - By Aghaebene precious - 2019-10-13 12:47:14

The Nigeria Economy is so bad because the country depends heavily on importation. We are not taking advantage of both Labor, Land, Entrepreneurship, FDI or Capital. ... Natural resources, such as oil and gold, can be extracted and refined for human consumption from land.

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Why Nigerian Economy is Growing Poorly - By Emmanuel Austin Higuain - 2019-10-13 16:27:34

Nigeria might be the most populous country in Africa, but they are running low on healthcare professionals. The current ratio of nurses, midwives and doctors to patients is 1.95 to 1,000.

With such a low density of medical care available, many people in Nigeria either go completely without medical care or without enough medical care. But sickness is costly, and oftentimes can trap people into never-ending cycles of poverty. Improving Nigerians’ access to healthcare is an essential step to reduce the amount of poverty in Nigeria.

At the surface, these problems can seem daunting and unsolvable. But the first step to crafting sustainable solutions is understanding the contours of the problem. By understanding the causes of poverty in Nigeria, organizations like UNICEF and WHO have started various initiatives to strengthen the economic, education, and health care infrastructure in Nigeria, as well as reduce government corruption.Working hand in hand with international partners, Nigeria is continuously demonstrating their commitment to crafting a better future for their impoverished citizens.

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Why Nigerian Economy is Growing Poorly - By Oloyede Ireoluwa - 2019-10-13 17:25:14

Sincerely Nigeria is so blessed but we Nigerians plus our government have devour everything we have so how do we develop, No we can't we all have to change we are all NIGERIA

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