Nigeria’s economy can no longer depend on a single product. And it should not, as has often been repeatedly stated by several persons and institutions that mean well for the country. The nation cannot depend on oil alone.
For decades, crude oil has dominated Nigeria’s export earnings and foreign exchange inflows, crowding out other productive sectors and exposing the economy to repeated external shocks. As a result, fluctuations in global oil prices continue to place severe pressure
Nigeria’s economy can no longer depend on a single product. And it should not, as has often been repeatedly stated by several persons and institutions that mean well for the country. The nation cannot depend on oil alone.
For decades, crude oil has dominated Nigeria’s export earnings and foreign exchange inflows, crowding out other productive sectors and exposing the economy to repeated external shocks. As a result, fluctuations in global oil prices continue to place severe pressure