News Post: Nigeria explores farming options as the Oil Boom Fades


This Bloomberg piece explores Nigeria’s plan for action after its uninspiring performance as the oil boom fades. Since various countries such as the United States are beginning to find cheaper or domestic extraction points for oil, the economy of these oil dependent states are being negatively affected. I think it can be smart for the government to lend to farming projects since it would cost less and promote community efforts to fixing the problem. I also think that the government should diversify its plan for more than just subsidized rice mills. If cocoa is responsible for a quarter of the economy and employs seventy percent of the working population then that market should be targeted for expansion of some sort first. Nigeria should also think about the long-term future and if there is any way they could combat imminent climate change.

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