Recent report shows that Nigeria economy is currently going through recession period with the GDP decline by 0.70% in the first part of year 2016.
The royal highness Emir of Kano and former Central Bank of Nigeria (CBN) Governor Sanusi Lamido Sanusi has said that Nigeria should not be obsessed with the oil it has in abundance.
He made the statement last week at a forum in Lagos and also share it via his Instagram Page on Tuesday, adding that there is no future for oil.
He Posted:
The Lagos story is a story of what Nigeria can do with itself – transparency, consistency, regulations. That’s why today Lagos state is 30% Nigerian non-oil GDP, and Lagos can do without oil.
This country is better off with Lagos than with the Niger Delta. Let’s not make that mistake. We should be together as a country.
Every part of the country is important. But, let us not be so obsessed (with) a resource, because we have had the commodity driven model, and we are blind to the potentials of an alternative model.
Lagos doesn’t need oil. What is oil anyway? It is a raw material. You don’t drink it. You need it to move your vehicles. Now, you have electricity. You need it to fill your generator.
Now you have solar power, and biomass. The future of oil is not there. So, those few people who are trying to break up this country over oil, after sometime that oil will be worthless.
Photo Credit: Instagram: @sanusilamidosanusi