Building a Non-Oil Export Based Economy for Nigeria: The Potential of Value-Added Products from Agricultural Residues

Petroleum is a natural resource that has contributed immensely to the industrial and economic developments of many nations. It has simultaneously contributed to the ruin of such nations. While industrial activities of nations endowed with petroleum resources increased, the national technological advancement of such nations has not been significant. The discovery and exploration of petroleum has diverted focus on (Agricultural Produciton) and other sectors of national economy. The serious negative effects of the exploration of petroleum on the agrarian economy of Nigeria, as a case in Africa, are very sad. The agriculture sector which used to be the main stake of the economy of Nigeria in the pre and early independent periods, until the 1980s, was destroyed as a result of the discovery and exploration of petroleum. While Nigeria should celebrate the exploration of petroleum and properly manage the resource, this volatile petroleum resource should not be allowed to destroy the agricultural and other viable sectors of the national economy. The paper presents some viable agro-based alternatives to petroleum economy. The industries and programs that can emerge from the output of the agriculture sector are many. These include energy industry from bio Fuel and bio diesel, solar and wind; pharmaceutical industry from fruits and vegetables; tourism industry from wild life parks and forest resources; furniture and construction industries from forest resources; agro processing industry from arable and cash crops; leather industry from animal skin; textile industry from cotton; agro machinery manufacturing industry to serve agro based industries; product development and added value; and women and youth empowerment through agricultural clusters.