National wealth of my country
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Greetings my fellow steemians in STEEM for better communication, i believe you're all doing well. It's a pleasure to welcome you all to my blog and today, with a different topic. Regards to @shiftitamanna for always bringing something interesting to discuss about, let's get to the contest hint.
What is meant by the national wealth of a country? |
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The national wealth of a country is the total value of a particular country net worth or economy wealth of a particular country, in other way round; comprehensively it is the total activities in a country that results in finance, these include humans capital, natural resource,. intellectual capital and whatever sources that leads to earning compensation.
When talking of the national wealth of a country, the liabilities are been ignored or are exceptional. Whatever that doesn't add value to a country is been subtracted. **When calculating the total national wealth of a country, the fit and healthy souls are also recognize as the ideal wealth of a country because they're the voice of a country
What are the significant national wealth in your country? |
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Different countries has some certain source that signify wealth in their country, the same thing applicable here in my country Nigeria. There's lots of sources that convert earnings and here i want to talk about just two.
| Cash crop. |
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In Nigeria, agricultural products are been noted or considered as lme of the important significant of wealth. Through importation, cash crop can be convert into incentives income. We have cash crops like:
- Cocoa.
- Rubber.
- Cotton.
These are just few of the cash crops available in Nigeria, these crops which are produced by a process call plantation, it's presence is crucial as it reduces the amount of financial crisis.
| Crude Oil. |
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Crude Oil is the main and biggest stream, channel of wealth available in Nigeria. It claims the name biggest stream of wealth as almost everything in the world is been produced through it. Crude oil can be refined into several profitable incomes such as:
- Petrochemicals.
- Gasoline.
- Diesel.
These products can be exported to different countries and in return, generate incomes that add to the revenue of a country. Just few countries are blessed with crude oil and Nigeria is counted as one.
Why is the domestic financial wealth not included in the national wealth? |
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If the domestic financial wealth is been calculated among the national wealth of a country, it becomes duplicate by triggering the fundamental wealth of a country. Remember, implying the word domestic it belongs to the household, so the financial assets available there is real assets and it's main purpose is for the household benefits.
What to do to prevent the maintenance and waste of national wealth? |
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Several measures can be consider as a strategy to prevent the maintenance and waste of the national wealth in a particular country, i believe practicing the following can help.
Diversify economy. If the country diversify the economy of a country, individuals wouldn't hope in one source of income instead explore different variants of jobs opportunity.
Implementation of sustainable extraction practices should be encourage, by this means the people of a country will benefit through the increase of job creation.
In conclusion, national wealth is crucial in a country as it determines the richness of a country, cash crops and crude oil are parts of the source that signify wealth in Nigeria.
| I'll love to invite @bessie2023 @preshy001 and @saintkekvin17 to participate in this contest. |
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| 10% to Worldsmile. |
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Best regards KIDI40 |
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Hello @kidi40 i really enjoyed reading your post, and you have really enlightened me and discuss so many things on the national wealth of my country. Success in the contest