Home Politics Obasanjo Slams Nigeria’s Dependence on Oil, Says It’s a ‘Deadly Mistake’
Politics

Obasanjo Slams Nigeria’s Dependence on Oil, Says It’s a ‘Deadly Mistake’

Share
Obasanjo Slams Nigeria's Dependence on Oil, Says It's a 'Deadly Mistake' | Daily Report Nigeria
Share

Former President Olusegun Obasanjo has criticized Nigeria’s over-reliance on oil, describing it as a “deadly mistake.” He argued that the country should have diversified its economy to include gas and agriculture.

 

Obasanjo, in an interview with Financial Times, expressed his disappointment with the country’s failure to develop its gas resources and agriculture sector.

ATTENTION: Click HERE to join our WhatsApp group and receive News updates directly on your WhatsApp!

“I believe we made a very, very deadly mistake. We put all our eggs in one basket of oil. We even ignored gas. We were flaring gas, which is a very important commodity. We ignored agriculture, which should have been the centrepiece of our economic development,” he said.

He also recalled his experience with Shell, where he invited the company to run the country’s refineries, but they declined due to corruption in the sector.

“When I was President, I invited Shell and I said, look, come and take equity participation and run our refineries for us. They refused. They said our refineries have not been well maintained. We have brought amateurs rather than bringing professionals. They said there’s too much corruption with the way our refinery is run and maintained. And they didn’t want to get involved in such a mess,” he said.

Furthermore, Obasanjo warned that those profiting from fuel importation will frustrate the Dangote Petroleum Refinery if they feel their interests are threatened.

READ ALSO: Apologise To Oyo Traditional Rulers, Afenifere Tells Obasanjo

“Aliko’s investment in a refinery, if it goes well, should encourage both Nigerians and non-Nigerians to invest in Nigeria. If those who are selling or supplying refined products for Nigeria feel that they will lose the lucrative opportunity, they will also make every effort to get him frustrated,” he said.

 

Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles
Sen Natasha mocks Akpabio with ‘Erection’ apology | Daily Report Nigeria
Politics

Sen Natasha mocks Akpabio with ‘Erection’ apology

Senator Natasha Akpoti-Uduaghan has written a satirical apology letter to Senate President...

Delta Governor Sacks Information Commissioner, Appoints Replacement
Politics

Delta Devt Advocate Urges Gov Oborevwori to Industrialize State through Agriculture, Aquaculture

Comrade Mulade Sheriff, a Delta State-born environmentalist and development advocate, has urged...

Surveillance Contract: Coalition of Northern Youths Back Tompolo
Politics

Tompolo Endorses Tinubu for Second Term, Predicts Fubara’s Return to Office

Chief Government Ekpemupolo, popularly known as Tompolo, has declared support for President...

Opposition Slams Governor Oborevwori's N275 Billion Project Approval as Mediocre
Politics

BREAKING: Delta APC Welcomes Oborevwori, Describes Defection as Historic

Delta APC welcomes Governor Sheriff Oborevwori to party. Described governors defection as...