Opinion
Diversification As Recipe For Nigeria’s Economy
According to a popular maxim, it is difficult for a tree to make a forest. This is a truism that needs not to be doubted in anyway. For instance, if we have only one rich man who stands as sole ‘proprietor’ of wealth in a family and refuses to teach others how to fish, a time certainly will come when the burden of doing so will start weighing him down.
The same is real when a nation solely depends on a single economic product, without thinking of exploring other aspects, or neglects other visibly available sources that would otherwise have helped in enhancing her economic prosperity.
When I was growing up as a young man, Nigeria was a major producer of cocoa, rubber, groundnut and coal, among other economic resources, before crude oil came into limelight. Then, these resources sustained our economy, which was buoyant. Our currency then was valuable and life itself was awesome, at least, from mid 1970s till 1990s.
We once had the groundnut pyramids in the North, cocoa in the West and coal in the East. With these minerals and others, Nigeria’s economy was strong and viable. These made the nation a strong economy and earned her lots of respect in the comity of nations.
But as soon as oil exploration began, and there was oil boom, the groundnut production, coal mining, rubber production, and cocoa plantations started losing the attention hitherto given to them. As the oil money trickled in, many Nigerians began to live ostentatious and flamboyant lifestyles; people abandoned the farms and these resources suffered neglect as all attention shifted to oil. With the oil boom came laziness and corruption as many, in their bid to surpass others in wealth and property ownership, started going the extra mile, looting funds meant for the nation’s development.
The embezzlement and siphoning of the nation’s treasury kept enlarging in scope, till it finally assumed the height where some heartless Nigerians began to ferry stolen monies to developed nations to the detriment of ordinary Nigerians who cannot boast of three square meals. As a result, the country was left under-developed.
With the concentration on oil alone and the accruing wealth from it being misappropriated, the economy crumbled fast, helped by the fall in oil price and the nation’s currency could no longer compete with other currencies of the world.
Now, it has become obvious that there is no way the country can come out of its current economic difficulties without the diversification of the economy. It is, therefore, incumbent on the managers of the country’s affairs to return to agriculture which was the mainstay of Nigeria’s economy before the discovery of crude oil in commercial quantity.
Many Nigerians have indeed lent their support to a return to agriculture. For example, Professor Adolphus Joseph Sam Toby, a Port Harcourt-based financial scientist, said that Nigerians risk rapid descent to worst poverty situation if those in charge of the affairs of the nation fail to handle well the recession plaguing it.
According to him, the sure way out of the economic logjam currently bedeviling the nation and her populace is by going back to agriculture, adding that former President Olusegun Obasanjo’s “Operation Feed The Nation” agenda on agriculture, was geared towards making agriculture bounce back to relevance.
“We are lousy. When you don’t want to work, we don’t want to see farming as mainstay, and our life is entirely dependent on oil, whose price is rapidly with no sign that it will ever bounce back to normal, are we not fooling ourselves? As I speak to you now, many Nigerians cannot afford a square meal a day,” he said.
Sharing similar sentiments, a renowned educationist and Zonal Director of Ministry of Education, Oyigbo Local Government Area of Rivers State, Dr (Mrs) Christiana Sibor said, it is absolutely imperative for Nigerian leaders to have the economy diversified to save it from its ailing state. She was of the view that the economic situation will certainly improve if other sectors like mining and agriculture are looked into.
“Oil in Nigeria, to me, has lost its value. May be it is in other oil producing countries that it still retains its value. I don’t know. But I tell you, as far as I am concerned, the issue of oil in Nigeria should be de-emphasized, while other areas should be vigorously pursued for effective results. This is a duty that we all must join forces with our leaders to do, so as to salvage this nation out of her present economic recession that had created rooms for hunger, disease and deaths”, she said.
I can not agree less with the above views. I hope our governments at all levels, will listen to this advice and do the needful.
Toby writes from Port Harcourt.
Bethel Sam Toby
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Restoring Order, Delivering Good Governance
The political atmosphere in Rivers State has been anything but calm in 2025. Yet, a rare moment of unity was witnessed on Saturday, June 28, when Governor Siminalayi Fubara and Minister of the Federal Capital Territory, Chief Nyesom Wike, appeared side by side at the funeral of Elder Temple Omezurike Onuoha, Wike’s late uncle. What could have passed for a routine condolence visit evolved into a significant political statement—a symbolic show of reconciliation in a state bruised by deep political strife.
The funeral, attended by dignitaries from across the nation, was more than a moment of shared grief. It became the public reflection of a private peace accord reached earlier at the Presidential Villa in Abuja. There, President Bola Ahmed Tinubu brought together Governor Fubara, Minister Wike, the suspended Speaker of the Rivers State House of Assembly, Martin Amaewhule, and other lawmakers to chart a new path forward.
For Rivers people, that truce is a beacon of hope. But they are not content with photo opportunities and promises. What they demand now is the immediate lifting of the state of emergency declared in March 2025, and the unconditional reinstatement of Governor Fubara, Deputy Governor Dr. Ngozi Odu, and all suspended lawmakers. They insist on the restoration of their democratic mandate.
President Tinubu’s decision to suspend the entire structure of Rivers State’s elected leadership and appoint a sole administrator was a drastic response to a deepening political crisis. While it may have prevented a complete breakdown in governance, it also robbed the people of their voice. That silence must now end.
The administrator, retired naval chief Ibok-Ette Ibas, has managed a caretaker role. But Rivers State cannot thrive under unelected stewardship. Democracy must return—not partially, not symbolically, but fully. President Tinubu has to ensure that the people’s will, expressed through the ballot, is restored in word and deed.
Governor Fubara, who will complete his six-month suspension by September, was elected to serve the people of Rivers, not to be sidelined by political intrigues. His return should not be ceremonial. It should come with the full powers and authority vested in him by the constitution and the mandate of Rivers citizens.
The people’s frustration is understandable. At the heart of the political crisis was a power tussle between loyalists of Fubara and those of Wike. Institutions, particularly the State House of Assembly, became battlegrounds. Attempts were made to impeach Fubara. The situation deteriorated into a full-blown crisis, and governance was nearly brought to its knees.
But the tide must now turn. With the Senate’s approval of a record ?1.485 trillion budget for Rivers State for 2025, a new opportunity has emerged. This budget is not just a fiscal document—it is a blueprint for transformation, allocating ?1.077 trillion for capital projects alone. Yet, without the governor’s reinstatement, its execution remains in doubt.
It is Governor Fubara, and only him, who possesses the people’s mandate to execute this ambitious budget. It is time for him to return to duty with vigor, responsibility, and a renewed sense of urgency. The people expect delivery—on roads, hospitals, schools, and job creation.
Rivers civil servants, recovering from neglect and under appreciation, should also continue to be a top priority. Fubara should continue to ensure timely payment of salaries, address pension issues, and create a more effective, motivated public workforce. This is how governance becomes real in people’s lives.
The “Rivers First” mantra with which Fubara campaigned is now being tested. That slogan should become policy. It must inform every appointment, every contract, every budget decision, and every reform. It must reflect the needs and aspirations of the ordinary Rivers person—not political patrons or vested interests.
Beyond infrastructure and administration, political healing is essential. Governor Fubara and Minister Wike must go beyond temporary peace. They should actively unite their camps and followers to form one strong political family. The future of Rivers cannot be built on division.
Political appointments, both at the Federal and State levels, must reflect a spirit of fairness, tolerance, and inclusivity. The days of political vendettas and exclusive lists must end. Every ethnic group, every gender, and every generation must feel included in the new Rivers project.
Rivers is too diverse to be governed by one faction. Lasting peace can only be built on concessions, maturity, and equity. The people are watching to see if the peace deal will lead to deeper understanding or simply paper over cracks in an already fragile political arrangement.
Wike, now a national figure as Minister of the FCT, has a responsibility to rise above the local fray and support the development of Rivers State. His influence should bring federal attention and investment to the state, not political interference or division.
Likewise, Fubara should lead with restraint, humility, and a focus on service delivery. His return should not be marked by revenge or political purges but by inclusive leadership that welcomes even former adversaries into the process of rebuilding the state.
“The people are no longer interested in power struggles. They want light in their streets, drugs in their hospitals, teachers in their classrooms, and jobs for their children. The politics of ego and entitlement have to give way to governance with purpose.
The appearance of both leaders at the funeral was a glimpse of what unity could look like. That moment should now evolve into a movement-one that prioritizes Rivers State over every personal ambition. Let it be the beginning of true reconciliation and progress.
As September draws near, the Federal government should act decisively to end the state of emergency and reinstate all suspended officials. Rivers State must return to constitutional order and normal democratic processes. This is the minimum requirement of good governance.
The crisis in Rivers has dragged on for too long. The truce is a step forward, but much more is needed. Reinstating Governor Fubara, implementing the ?1.485 trillion budget, and uniting political factions are now the urgent tasks ahead. Rivers people have suffered enough. It is time to restore leadership, rebuild trust, and finally put Rivers first.
By: Amieyeofori Ibim
Amieyeofori Ibim is former Editor of The Tide Newspapers, political analyst and public affairs commentator
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