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Osinbanjo insists on economy diversification

26 January 2016, 21:40

Abuja - Vice President, Yemi Osinbajo, has reiterated calls to diversify the country’s economy from oil.

He spoke in Abuja following a meeting with a delegation of United States business officials.

Osinbajo said although Nigeria currently faced serious challenges, it had immense opportunities.

“It is time to diversify the economy from oil. We have always spoken about it, but never got around doing it. The opportunity has come now," he said.

Also read: The promise and challenges of a rebased economy 

He said the country had all it took to be an agricultural nation.

“We also have solid minerals and we must develop our infrastructure in order to aid business,” Osinbajo said.

His sentiments come amid concern at the plummeting oil prices in the global markets.

Nigeria’s economy is seen as overly-reliant on oil. The West African country is the continent’s biggest producer of the commodity. 

- CAJ News

Tags abuja economy

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