Although this was a big challenge overdependence on oil for the economy of Nigeria, steps are being made toward diversification. In 2024 non-oil exports in such sectors as agriculture and solid minerals have grown and constitute one of the key contributors to the country's revenue. Agriculture export leaped 123% this year, while non-oil sectors generated $2.7 billion in the first half of 2024.
While diversification is important, it's definitely not as easy as just moving into other industries. Infrastructure in Nigeria is not very good, moreover there are some regulatory challenges, and insecurity that could slowing down the development. What needs to be done by the government is fix those areas if it wants this to have a lasting effect and decrease reliance on oil.
In a country where there are enough unemployed youth, I don't expect diversification into another sector that would yield a lot of money be a problem. The Nigeria you are talking about today, consists of millions of youths who are looking for what to do, they have the manpower but the government is focused on the sector that generates the most money but has fewer workers to profit from it. Agriculture is a huge sector. If the government had made agriculture more interesting for the youth I guess they won't be ashamed of working in the sector. Now most of the youths are looking for the quickest and easiest to make money, especially in the internet world.
There has not been a time when something has been easy for the Nigerians. So saying it's not gonna be easy for the government to diversify is not enough reason. The people are suffering already then what could be worse than that?