P
ProfRem
Guest
Former Minister of Education, Oby Ezekwesili, has said that Nigeria will be forced to drink her crude oil very soon if we faile to diversify the economy.
Ezekwesili said this while speaking on Tuesday at the 2017 civil engineering conference organised by the Abuja chapter of the Nigerian Institution of Civil Engineers (NICE).
She said major oil producing countries are already putting in place measures to diversify from the oil sector but Nigeria remains “adamant” on its dependence on the commodity.
“Norway, one of the biggest oil producers has just stashed $1 trillion of her oil money in a sovereign wealth fund,” she said.
“I was in Norway recently, and 10 per cent of vehicles used there run on electric. Nigeria should ask herself these critical questions because very soon, Nigeria will drink her crude oil.”
Although the federal government is making moves to diversify the economy, Nigeria remains heavily dependent on oil, a resource which is the country’s main source of revenue.
Ezekwesili said this while speaking on Tuesday at the 2017 civil engineering conference organised by the Abuja chapter of the Nigerian Institution of Civil Engineers (NICE).
She said major oil producing countries are already putting in place measures to diversify from the oil sector but Nigeria remains “adamant” on its dependence on the commodity.
“Norway, one of the biggest oil producers has just stashed $1 trillion of her oil money in a sovereign wealth fund,” she said.
“I was in Norway recently, and 10 per cent of vehicles used there run on electric. Nigeria should ask herself these critical questions because very soon, Nigeria will drink her crude oil.”
Although the federal government is making moves to diversify the economy, Nigeria remains heavily dependent on oil, a resource which is the country’s main source of revenue.