L
LequteMan
Guest
The Emir of Kano, Alhaji Muhammadu Sanusi II, has stated that said the current economic crisis induced by the crash in global oil price, should serve as a wake up call for the country to utilise its resources judiciously.
According to him Nigeria must stop importing what it has in order to boost local industries and create jobs.
Further commenting on the current economic hardship in the country, the Emir said Nigerians must be educated to appreciate that it was due to the low revenue accruing to government as a result of the fall in oil price.
“It is not possible to continue doing what you are doing when the price of oil was at $110 and now that it is selling at about $30.
“People ought to realise that the price of oil has bearing on the current hike in goods and services, and until things change, we must have to adjust our needs as a nation," he said.
According to him Nigeria must stop importing what it has in order to boost local industries and create jobs.
Further commenting on the current economic hardship in the country, the Emir said Nigerians must be educated to appreciate that it was due to the low revenue accruing to government as a result of the fall in oil price.
“It is not possible to continue doing what you are doing when the price of oil was at $110 and now that it is selling at about $30.
“People ought to realise that the price of oil has bearing on the current hike in goods and services, and until things change, we must have to adjust our needs as a nation," he said.
