Abuja - Egbe Omo Oduduwa, the pro-Yoruba
political organisation, has recommended value-addition to the country’s
resources in order to revive the economy.
This, it said, could enhance growth than merely diversifying
“It is not just about shifting away from dependence on oil,
being an extractive enterprise, onto other extractive enterprises,” the
“It is about shifting away from any form of dependence on
any extractive industry and the only way such a shift could be maintained is by
transforming such natural resources into manufactured products, a process we
believe should now be addressed.”
Also read: The promise and challenges of a rebased economy
Egbe Omo Oduduwa pointed out the need to diversify the
economy from oil followed the plummeting prices of the commodity in the
To defy such setbacks, the organisation also highlighted the
need for political transformation.
“Thus, when ‘diversification’ is proposed as the solution to
Nigeria’s economic conundrum as a result of her over-reliance on crude oil
exports whose prices have taken a significant down turn, it is necessary that
we not only address the purely economic issues but also the political
conditions that led us to get into that mess in the first place.”
Established in 1945, Egbe Omo Oduduwa aims to unite the
Yoruba, one of the largest tribes in Nigeria.
- CAJ News