Ogun State Governor Advocates Economic Diversification for Sustainable Development
Ogun State Governor, Prince Dapo Abiodun, has emphasized the imperative of shifting Nigeria’s economic focus from oil to the non-oil sector for long-term sustainability. Speaking at the 6th Senator Abiola Ajimobi Roundtable and 74th Posthumous Birthday, Governor Abiodun underscored the importance of diversification into mineral resources, agriculture, manufacturing, tourism, and technology.
Governor Abiodun highlighted the global shift away from fossil fuels, emphasizing that Nigeria must actively explore alternative revenue sources. He urged the nation to tap into over 40 commercially viable mineral and natural resources, estimated to be valued at over £730 billion. Ogun State, for instance, boasts over 15 natural mineral resources, yet only limestone, granite, and laterite are actively mined.
The governor pointed out that Nigeria’s reliance on oil exports exposes the nation’s mono-economy to volatility due to factors like supply and demand, market forces, and oil theft. He stressed the need for comprehensive economic diversification to create a more resilient and sustainable financial foundation.
The theme of the roundtable, “Re-engineering Nigeria For Sustainable Development: Options, Costs, and Prospects,” aligns with the call for economic diversification. Governor Abiodun identified key factors such as youth engagement, international collaboration, technological advancement, and innovation as catalysts for economic growth.
In his keynote address, Minister for Power, Chief Adebayo Adelabu, attributed Nigeria’s challenges to leadership and fellowship issues. He emphasized the importance of addressing leadership quality, revitalizing sectors like health and power, and dealing with educational and youth development.
Moderator Tajudeen Akanji highlighted the need for broad education, reasonable income, a functional middle class, administrative efficiency, social services, and respect for the rule of law to re-engineer the country for sustainable development.
Source: Daily Post
