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Nigeria Must Reduce Over-Dependence On Oil – Akeredolu

Thursday, 21 October 2021

Nigeria Must Reduce Over-Dependence On Oil – Akeredolu
Governor Akeredolu

Ondo State Governor, Rotimi Akeredolu has stated that there was a need to develop strategies that would enhance the Internally Generated Revenue of the country following the current decline of revenues from the oil sector of the economy.

He stated that the way out of the present economic challenges is to look inward and generate revenue aside from the one coming from the oil sector.

Akeredolu stated this in his keynotes address at the ninth Chartered Institute of Taxation of Nigeria Zonal Conference, held in Akure, the state capital.

Also Read: Fayemi Laments Low Revenue Allocation To Ekiti, Says Fund Barely Enough For Salaries

Represented by his deputy, Mr Lucky Aiyedatiwa, the governor said, “Every attempt for sources of revenue by the country is a step in the right direction.

He said, “This will break the syndrome of over-dependence on petro-naira that has subjected our fortune as a country to the vagaries of oil prices in the oil markets.

“We must therefore find ways to reduce our over-dependence on revenue from the oil sector. It is a well-known fact that Nigeria is favoured and bountifully blessed with good people who are willing to perform their obligation if necessary machinery is put in place.”

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via: Information Nigeria

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