Recession as Opportunity for Reversing Resource Curse — Economic Confidential

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  • There have been evidence of consistent policy failures in Nigeria both in size and magnitude over the years. The bottom-line is that we have to change our policy conception in addressing not only the oil syndrome but even our attitudes in managing what we have. I believe saving is an inevitable mantra complemented by investment and productivity. The present recession could be an opportunity for re-thinking only if we learn from the previous mistakes. We can develop the non-oil sector to generate the needed resources to move forward but if we maintain the status-quo of mismanagement and unsustainable consumption, lack of savings, investment and productivity, the curse shall persists.

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