Abbas also argued that to secure Nigeria’s economic future, the country must decisively move beyond oil
By Kehinde Okeowo
Speaker of the House of Representatives, Tajudeen Abbas, on Monday said continued over-dependence on oil by Nigeria will only make Nigerians more vulnerable.
He made this known while addressing the congregation at the 14th convocation lecture of the Al-Hikmah University in Ilorin, the Kwara State capital.
According to him, not diversifying the country’s economy will lead to inequality, greater poverty among Nigerians and mass unemployment.
He added that Nigeria should harness its abundant resources and human capital to make the country more prosperous.
The Speaker also explained that to secure Nigeria’s economic future, the country must decisively move beyond oil and develop sustainable pathways for inclusive growth.
ALSO READ: Kwankwaso says Atiku can’t be trusted to serve one term as president
Abbas said, “With dwindling oil revenues, global shifts toward renewable energy, and the increasing need for job-creation, it is imperative that we chart a new course for economic transformation.
“This requires deliberate efforts to unlock the potential of other sectors, such as agriculture, solid minerals, technology and the creative industries.
“Achieving this transformation will secure Nigeria’s economic future and address poverty, inequality and unemployment —- critical barriers to sustainable development.”
He further said examples of such countries toeing the line he highlighted are Saudi Arabia, Malaysia and the United Arab Emirates, UAE.
Abbas also stressed that Nigeria’s economic transformation demands collective responsibility, adding that the government must lead with visionary policies, transparent governance and strategic investments in infrastructure and education.
