First of all, I?m so sorry for not meeting up with the deadline for this report. I have a lot of environmental and economic issues to write about my nation, Nigeria but economic situation has been very challenging.

Nigeria, an oil rich nation has suffered a lot in recent times than any other time in her history. The discovery of oil in Nigeria in the mid 90?s seem to be the era of great wealth and abundance to the Nation This attracted international oil giants to heavily invest in the economy which steadily increased the wealth of the most populated black nation in the world. Before then, Nigeria?s economy has been steady and thrived on agrarian economy particularly with the exportation of cocoa, groundnut, oil palm and cassava. She stood out amongst the major producers of food all over the world

However, let me say, instead of the proceeds and revenue from crude oil to be harnessed for industrial and first class infrastructural development in every sector to bring in a booming economy with wealth, it has ushered in corruption and a dooming economy as the revenue from oil was mismanaged and embezzled by corrupt government officials.

It may interest you to know that Nigeria as a nation has just four refineries o cater for over 170 million citizens and these refineries functions at 35% of its capacity and has not been able to meet the growing demands for petroleum products leaving the country to spend billions of dollars in importing the products. After about four decades of oil boom, the nation still suffers set back in infrastructural development, power generation, political instability and nefarious activities of corrupt politician.

Presently, the mismanagement of public funds by the previous administration has left the present one in a state of bankruptcy. The pump price of petrol, which is the major source of energy used by Nigerians to run economic activities ranging from transportation, trading, generators for power etc., has increased by about 250%. Imagine a pump price of N87 which unofficially jumped up to N200 per liter.

Aside that, the abrupt drop in oil prices has led to large fall in  revenue which has left 27 states out the 36 states of the federation to owing workers salary for  4 to 6 months leaving the workers in a state of financial struggle.

When I look at the implication of this, I discovered that Nigeria, as a nation still solely depend on fossil fuel (petrol and diesel) for her economy. Prices of goods and services have jumped up at an alarming rate of about 250%. The cost of production is almost unaffordable since the scarcity of the Petroleum motor spirit (PMS) popularly known as petrol.

I seem to be maniacally bewildered and left to thinking on how we can achieve the sustainable goals? How can we break free from this hardship? How can we diversify the economy and develop the agrarian sector? This question is left for the government officials and policy makers in the country. At this moment, this is the heart cry of an average Nigerian.

Although, the present administration is trying every effort to salvage the situation by calling on various international organizations for financial support and infrastructural development. In addition, prosecution of past public office holders and government officials that has unimaginably looted the nation?s treasury has been taken with serious efforts. Furthermore, the President has also pledged to focus on Agriculture and Mining in reviving the economy from its present state.

As the popular saying at the end of the darkest tunnel there is always light and at the darkest hour of the night comes the breaking of the day. Though, the country is passing through a difficult time at the moment, but I have a strong believe that we will come out strong like ever before be the true giant of Africa.