Obasanjo calls for diversification of economy

Former president,Chief OlusegunObasanjo, on Monday, said that the nation's dependence on oil for economic growth was over, saying there was need for diversification of the economy.He said this at the official opening of a two-day zonal advocacy workshop organised by the Ogun State government in collaboration with the Revenue Mobilisation Allocation and Fiscal Commission (RMFAC), on 'Economic Diversification and Enhanced Revenue Generation,' in Abeokuta.Obasanjo lamented that the country, after 50 years of independence had been sharing resources from oil, stressing that other sectors of the economy must be developed especially agriculture and tourism.'We have been sharing resources from one commodity that is, oil. The only thing we have done so far is that we haven't drunk oil but we have been intoxicated by it.'As a means of uniting the country, developing and ensuring peace and stability, four areas are very important so us. They are agriculture business, manufacturing/industrialisation, solid minerals and tourism.'He further said that, 'none of them by itself alone can give us food except agriculture business and without food, there is no life. I will say agriculture business is the master,' Obasanjo remarked.The chairman, RMFAC, Mr Elias Mbam, in his remarks, said that the programme was organised to educate stakeholders in the South-Western states on how to manage available resources and generate more revenue.The commission, he said, was committed to sensitising the three tiers of government to shift focus from oil to other resources for wealth generation.
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