WITH ECONOMIC DEVELOPMENT, NIGERIA IS NOT EXPECTED TO BE A GENERATOR-ECONOMY-  PROF ADENIKINJU

By: Rebecca Ajayi

Prof Adeola Festus Adenikinju said that at the 405th University of Ibadan inaugural lecture and the 6th for the 2016/2017 session which was held at Trenchard hall on the 13th April, 2017.

According to him, the country is divinely blessed with resources and the issue we face today is because we have refused to maximize and maintain what we have. He further stated that “with economic development, Nigeria is not expected to be a generator-economy as electricity will not only be available but also affordable for citizens”

Prof Festus also said that petroleum ought to be a blessing; it is a good gift from God if used judiciously. However, Nigeria remains the only country within OPEC that import petroleum product for it domestic consumption.

He further stated that Nigeria can move away from experiencing the oil diseases if adequate investment are made into the oil sector; if the country encourages private sectors; if the sector is made accountable, transparent, open and efficient, if oil producing communities are taken care of; if petroleum sector can be seen as a development enabler and not a revenue enabler and if Nigeria does not forget her first love-agriculture.

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