One major opposition to development is denying to maximize potentials and resources. Resources are things used to achieve an objective examples include: fossil fuels, minerals, sunlight, vegetation, e.t.c .The ability to explore and make good use of resources will surely contribute to development. Nigeria being a blessed country has resources that can help her grow economically as the country isn’t lacking in water bodies, oil and gas, sunlight, minerals and even people but why then is Nigeria retarded in value of its economy?
Nigeria is still by far richer in resources than some countries but in standard of living those countries over powers her. Countries like China and USA are doing well economically, one of the reasons is because of its advancement in technology. Technology has been a great tool for processing and harnessing resources. Nigeria suffers today from recession, economy melt down, low standard of living because It’s unable to use technology effectively and efficiently. The country makes the list of the top 30 largest crude oil reserves in the world and crude oil being the mainstay of Nigeria’s economy still lacks behind compared to other countries. The country has only four refineries for oil and gas production which isn’t up to date and enough.
Furthermore, not only are there few infrastructures for the oil and gas sector but also power facilities and structures. In our contemporary world today over 40% of the things we use daily operates using electrical power . There are so many ways of generating electricity : dams, wind, sunlight and so on, is just a matter of converting the energy produced to electrical energy. Aside using dams for the production of electricity, sunlight can also be harnessed. Establishing a solar production company in the country won’t be a bad idea as this will in turn increase internal revenue generated as there won’t be a need to buy from other countries.
Also, acknowledging mechanized farming by providing machines for farmers will increase production of food. With the right equipments discoveries can also be made, many species of plants resides in the country which can be explored and perhaps used in producing medicines.
There is no doubt that if the government acknowledges the above, Nigeria’s economy would drastically improve. Above all, I think that improving people will also be beneficial. This brings manpower(labour) to being a resource. Advanced way of learning should be adopted in the educational system and training on how to use machines for better purposes should be encouraged. People should be enlightened so they understand the essence of obtaining vital information because information is transformation. The internet is free and at our disposal, we can learn and improve our skills from the things we learn online.
International trade is when “a country exchanges its excess production with the excess production of another country”. So with the use of technology production and international trade will also increase.
Technology is necessary for development, let’s use it to redefine our economy.
This article was written by Adeshino Stanley Ademolaconnect with him on IG here