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Recession: Industrialist Calls for Diversification of Economy



An Industrialist, Alhaji AbdulGazali Owolabi, has called on the leaders in the country to deliberate on how to boast agricultural development in the country as a way of diversifying the nation’s economy.


According to him, relied solely on oil has caused a lots of damages to our economy hence bring about highper-inflation as a result of failed oil market in the economy.

He said, the country is richly blessed with fertile land where crops can easily germinated but we are not making use of the God’s given resources instead we relied on oil.

Alhaji Gazali noted that, Nigerian is the richest in cocoa plantation but it has been neglected for oil because of selfish interest of some of our leaders, adding that diversification of nation’s economy is the panacea to current recession.

He posited that, government should as a point of responsibility ensure that they encourage young graduates to go into farming instead of using them as political thugs that later constitute nuisance to the society.

Speaking about purported idea of selling some country’s properties in a means of alleviating the economy downturn, Alhaji Owolabi said the idea is very erroneous as it will send the country back to square one.

Owolabi who is the Chief Executive Officer of Kasmo Industry Limited averred that, selling the nation’s properties at this period will banced back on the masses stressing that our leaders should think of another means of diversifying the economy not thinking of disposing our properties.


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