Sir: The private sector screamed when the Nigeria Labour Congress (NLC) demanded a $300 minimum living wage for Nigerian workers. At less than 50 cents, that is $0.5 per month, some states could not pay. They go cap in hand to the Federal Government for dole outs every month leaving their rich vast mineral resources untapped.
It was in the news on January 31st, 2024, that Nigeria lost $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 with the Minister of Finance and Coordinating 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 foot-dragging on restructuring must stop. The country’s forex earnings from cocoa, coffee, soya, timber, arabic gum, palm oil, rubber, cotton, groundnuts, cattle, hides & skins, gold and other minerals will help the Naira to appreciate considerably and bring its value at par with the dollar. That 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.
Rafiu Jimoh John wrote from 14, Ifeloju Street, Aseese, Mowe.
