Cannabis when legalized can avert the impending recession in Nigeria
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7th October 2020

Cannabis when legalized can avert the impending recession in Nigeria

Waylon Cameron
If the opinion of the finance minister is anything to go by, the country's should brace up for more serious economic challenges in the coming months. It is no longer news that the outbreak of the virus has destabilized global economy with the price of oil crashing to unprecedented levels. Going by the fact that they depends on crude oil as her major source of foreign income, it is not surprising that the country’s finance minister is warning citizens to prepare for the coming recession. With no other major commodity to sell to the international community, the economy of the populous black nation may be about to collapse.

Recent happenings in the nation have shown that millions of people who work in the private sectors have been relieved of their jobs since the outbreak of this disease. What this means is that there are millions of people who do not know where to run to. These job losses in the country has thrown some bread winners into confusion as they are at a loss on the right step to take.

The law enforcement agents in the

The central government seems unconcerned about the plights of the masses. A nation that has sold crude oil for over 5 decades is expected to have enough savings to help the masses at a time like this. But, this is not to be seen in a country where the ruling class live like emperors while the masses suffer hunger and penury. Citizens have been forced to stay in their homes even when they do not have anything to eat.

The law enforcement agents in the populous nation are said to have killed more citizens than the virus. These law enforcement agents are more interested in taking bribes from motorists who insist on travelling to their home states during the lockdown. They do not hesitate to shoot anyone they see walking around while they allow rich folks to drive pass the checkpoints and toll gates. The Executive and Legislators have never taken it upon themselves to cut down on the bumper pay they receive to send some palliatives out to the people.

To support the position of Rewane,

It is even more saddening to learn that despite the warnings from the country’s finance minster, there is no laid down plan on how to avoid the impending recession. From all indications, the finance minister is sounding this warning so it will be on record that he did the needful ahead of time. But what is the value of such a warning without a blueprint of how to prevent it? In view of the obvious lack of recovery plan from the finance minister, a member of the country’s presidential economic advisory board, Bismark Riwane opined that Cannabis can come to the rescue of the country’s economy.

To support the position of Rewane, a governor from the western part of the country, Rotimi Akeredolu has said he grows the finest specie of Cannabis in his state, Ondo. He believes the cannabis industry can generate more than $14 billion for the country in foreign revenue if the planting of medicinal cannabis is legalized. However, whether the country’s legislators and the executive will pay any attention to this remains to be seen. But going by the country's antecedents and the body language of the politicians, nothing will be done to prevent the looming recession.

Cannabis when legalized can avert the impending recession in Nigeria

The immediate past administration seemed to have had more seasoned hands manning important government agencies and parastatals than what the country presently has. These set of politicians who occupy the executive and legislative arms of government seem to have come to eat and leave. Taking what the member of the presidential economic advisory board and governor said into consideration and acting on them would have been the best course of action. While there seems to be nothing the government can do to help the citizens during these trying times, individuals can take the bull by the horn and do the needful.

You don't have to wait for a government who is not interested in saving for the rainy day when you can start making plans to cushion the effects of the recession. The secret to winning in an ugly situation is to be prepared before the moment arrives. If you love farming, you may start considering a career in cannabis farming while the government takes her decision on the matter.

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