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Over Dependence On Crude Oil Affecting Nigerian Economy – Gani Adams | Citizen NewsNG

ByCitizen NewsNG

Oct 18, 2023



Aare Onakankofo of Yoruba land and National Coordinator of Oodua People’s Congress, OPC, Worldwide, Gani Adams, says over-reliance on oil is stifling the development of the country’s economy.

Mr Adams made the statement on Wednesday while speaking at the 2023 Olokun Festival Celebration in Badagry.

He said Nigeria needed to diversify and expand its economy to achieve sustainable economic development.

According to him, all over the world, great countries are doing wonders by looking beyond the ordinary.

“I was in South Africa recently and I marvelled at the rate the people of the country are driving the economy.

“The country is exploring solid minerals for development and using tax as a revenue- earning strategy to improve the economy.

“The economic boom and prosperity the world is enjoying today is as a result of diversification.

“Today, South Africa has recorded many successes by diversifying its economy,” he said.

Mr Adams said Nigeria could join the league of great nations by making fortunes from tourism, agriculture, solid minerals entertainment.

“Nigeria is a blessed country, but there is need for a radical approach to solving the country’s problem.

“For instance, the solid minerals in the whole of South Africa are not up to 25 per cent of what Nigeria has as a country.

”But we are yet to tap it and explore solid minerals as one of our God-given endowments.

“I am not a geologist, but from my findings, I know that Nigeria is blessed with solid minerals that are in abundance,” he said.


He said the country had been wasteful with the various resources that God had blessed it with.

According to him, the geological resources and structure of Nigeria is enough for us to turn the country around.

“Apart from the solid minerals, we can also explore the agricultural sector, we can explore the tourism, culture and sport sectors.

“There is potential in all these sectors for Nigeria to réalisé her dreams through diversification,” he said.

On Olokun festival, Adams said that there were abundant spiritual benefits one could gain from attending the festival apart from its socio-economic impact.

“The blessing of Olokun is encompassing. It is beyond the physical realm.

“I want to appeal to everyone that is present here to look beyond the ceremony and tap into the spiritual benefits of this festival,” he said.

Adams called on Federal Government to complete the Lagos Badagry Expressway as it serves a trans-regional route in West Africa.

He said that Badagry has great tourism potential with various historical sites and natural endowments,urging the government develop the potential of the town.

“Transformation of Badagry into a tourist destination is a project that can turn the country around,” he said.

The traditional rulers from Badagry, Ogun State, Republic of Benin, dignitaries from different parts of my country and the diaspora graced the festival.

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