What Buhari Should Do
Currently every country in the world is faced with all forms of issues, most especially COVID-19 pandemic.
And this has undermined the economy of many countries while the most affected are the undeveloped countries and most of them are situated in Africa.
Nigeria is not left out of this mighty economic recession, the country has lost several billions of dollars from the lack of selling crude oil, import and exportation of goods and services, and aviation just to mention but few.
Several countries in the world including America is also battling to reopen its economy, but while this is the case Nigeria too has been seeking the best ways to revive its economy.
But we should know that its not just about reviving the economy, its about strengthening and getting new means of revenue generation underway in other to get ahead economically and to be prepared for any other outbreak though we are not praying for another.
Though Nigeria is recognized for its strength in crude oil, but there are very much other untapped revenue generation potentials.
For example, we have other minerals, we have scraps, we have human potentials but who lacks proper funding system for natural talents and we have the sporting system, music, art, and other entertainments and this are areas which the government is ignoring and not even paying any attention to but all which the government can make a lot of money from.
Though the issue is that the Nigerian Government is only focused on crude oil while other countries in the world had already started taking advantage of the mentioned mediums for revenue generation. As the world develops further and the issue of climate change is now a hot topic in the united nation everyone is now looking towards zero carbon emissions in the society.
President Muhammadu Buhari should, therefore, work on joining forces with the entertainment industry by setting up a funding scheme for entertainment where even entertainers in our communities can get funding for their entertainment careers while the government gets shares from income made by the entertainer.
Everyone will be glad to enter into such business relationships with the government and this scheme should be at local government level, state level and the federal level to enable those in local communities have easy access to such funds.
Also, President Muhammadu Buhari should know that this method will become a national empowerment project that will lead to massive employment and this will not just be about employment but will fetch the federal government a large chunk of revenue from individuals and will strengthen the country’s economy.
Furthermore, the President should aware that it can establish the Bank of Entertainment Funding which will also play a role of disbursing funds to the funding scheme offices in local governments and state governments level. We can not deny the fact that the President is trying his best, but realistic policies need to be made in order to help the Nigerian common man who has a lot of entertaining potentials but cannot achieve his or her aim due to lack of funding.
The country can also boast of other mineral resources, but are yet to really harness from its abundance, people from other countries come into Nigeria and enjoy this abundance, the federal government is hereby advised to look inward in the quest for economic revitalization post-COVID-19.
There are a lot of benefits in scraps most of which are iron, lead, zinc, aluminium, copper, brass, mobile phone panels and computer panels just to mention few, this scraps holds a lot of potentials and they are used to remake wires, phones, necklaces, stainless plates and other stainless products, and other products and then be reimported and sold to us in high rates.
We have young Nigerians who are brilliant in this regard and can make the most of these businesses but can not get the funding needed to establish factories and other outlets that they can use to transform these things to usable products and be sold in cheaper rates.
President Buhari should, therefore, establish the scrap dealers funding scheme to help scrap dealers get funds to establish their businesses and better still establish factories to make these needed products.
As this will go a long way to grow the economy and build millionaires and billionaires from the little scrap dealers who go about trying to survive.
We also have young doctors, event planners, and the rest who can be funded by the federal government to establish their businesses and own shares in the businesses.
President Buhari should kindly consider such methods to grow the economy and stabilize it.
Ayooluwa Joshua.