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Sunday, July 9, 2017

INNOVATIVE STRATEGIES ON ALLEVIATING  POVERTY AND UNEMPLOYMENT IN THE NIGERIA ECONOMY 


Theme: Alleviating Poverty & Unemployment in the Nigeria Economy.

Tag line: "Making Life Better For All Nigerians"



Category: Nigeria Economy
Topic: Innovative Strategies on Alleviating Poverty & Unemployment in the Nigeria Economy
Focus Area/Coverage: Nigeria In General

By: 

Ambassador Ayanfeoluwa Abikoye


Introduction:


Economist are the major Economic drivers. To attain the change and growth the Nigeria Economy yearns for, an economist point of view should be considered to attain a standard sustainable development. Economist studies the interaction of internal and external factors of an Economy and how this factors affect or drives growth and development in the Economy.
The need for growth and positive change cannot be over emphasised in Nigeria. The oil sector which have been overly depended on now seems not to be the way any longer.
The Nigerian government now encourages other sectors (Agriculture, Oil, Services, Mining, Energy, Overseas remittances, Human capital) by providing several incentives to develop these other sectors to contribute also to the GDP. Though the sector(s) concerned are majorly the Agriculture and Agro-allied. Though Entrepreneurship has been encouraged but the age bracket needed for the change and growth Nigeria need are the YOUTHS.

Statement of the Challenges:


The mind-set and the discouraging environ we the youths finds ourselves has not really helped innovative mind in the country whereby white collar jobs has been over-emphasis by most and this tends to discourage creative minds . For instance, the case of the boy from Enugu who built an Aeroplane in 2016. Some many people criticized the projects and since then we have not heard any news of the government empowering this boy in order to be able create the future Nigeria planes. This boy could be the Nigeria version of the son of a coffee magnate from Sao Paulo who created the first plane to be mass-produced in a factory which was able to land in any broad Parisian thoroughfare before the Wright Brothers. Also, the Nigerian inventor who built a flying jet car to tackle traffic and congestions in Lagos state (Durojaiye, nicknamed 'Kenny jet,' calls his ambitious invention 'an aero-amphibious jet car' and he told CNN he has achieved two out of his three goals). Assuming this man has been encouraged by the government or private investors, he would have been groomed with like minds innovators to work on this project and achieve the three goals and by now Nigeria would have had or looking forward to having her own jet car and even be able to export to other countries.

Recommended Solution:


These are my own proffer empirical solution that will foster the growth and positive change we need to attain development.
People’s orientation towards Entrepreneurship should be changed. There are so many innovative minds out there that needs encouragement and support. Seminars, Mentoring and coaching should be available to encourage youths especially the teens and graduate. There should also be an assurance that their ideas will not be snatched from them (because this is the fear of many youth(s).
The educational sectors also needs reformation as it has a major role to play in order to achieve this objective of growth and positive change. There should be schools/colleges for not just careers but also for every hands on skills available. For instances, those who wants to learn arts and craft should  go to art school, those who desire tailoring/ fashion designing  and hair making should go the fashion school, musicians should go to music school, accountants, economics etc to business school etc.
Our Engineering student(s) should not be allowed to dwell in theories but more in practical aspect because most of the capital innovations comes from the Engineering departments which contributes more to any country’s growth than consumer goods. Organizations like SHELL in Nigeria tends to encourage innovations. For instance, the Engineering student from ABU who unveiled two cars that were constructed as an environment friendly especially for this year's 'Shell Eco Marathon; Last year, students from the University Of Lagos (UNILAG) as well as from the University of Benin (UNIBEN) have also built their own versions of energy-efficient car for the international Shell Eco-marathon; Moreover, in October 2014, the University of Benin (UNIBEN) team won the international award in prestigious nomination “Most innovative vehicle design” for the car called 'Ecocruise'.  
According to research, most developed countries invest more in capital projects and innovation which gave them an edge to attain their respective level of development. Therefore, if the above suggestions can be considered and encouraged, it will contribute immensely to the gross domestic product (GDP) of the Economy and Nigeria can attain a good level of growth. Also, this will encourage the youths and so many Nigerian investors in other country to want to partake in the innovative change and help build the Nigeria Economy.

Conclusion:


Nigeria needs to stop being a consumer orientated market. The change starts from the root (Educational sector) in order to groom the young and creative minds of the youth(s) before the intention to make fast money sets in and take over. 

Together we stand divided we rot.

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3 comments:

  1. Wow... Really insightful. Thanks. As much as I agree. Don't you think that change from the root in the educational sector you're talking about should rather begin from our various homes.
    Either ways, I love this write up. It has really enlightened me. ����

    ReplyDelete
    Replies
    1. you are right it should start from our homes but most parents dont give their children the necessary attention so the children are groom to be whom they are from the various schools.

      Delete
  2. Novel!!! Nice job, fellow Ambassador

    ReplyDelete

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