Gov Abiodun canvasses for diversification of Nigeria’s economy to non-oil sector

Ogun State Governor, Prince Dapo Abiodun has stated that the economy of Nigeria would be sustainable if focus is shifted from oil to the non oil sector.

He noted that the country could attain this through diversification into mineral resources, agriculture, manufacturing, tourism, and technology.

Speaking at the 6th Senator Abiola Ajimobi Roundtable and 74th Posthumous Birthday, put together by the Senator Abiola Ajimobi Foundation in alliance with the Institute for Peace and Strategic Studies, University of Ibadan on Saturday, the Ogun state governor stated that the world is steadily moving from fossil fuel, hence the need for the nation to start to look for other sources of revenue.

He said: “As I have mentioned earlier, the world is slowly moving away from fossil fuels as more countries embark on energy transition, therefore the need to actively diversified economy into non-oil sectors such as mineral resources, agriculture, manufacturing, tourism, and technology.

“Nigeria is blessed with an abundance of over 40 commercially viable mineral and natural resources that we as a people and government have not explored. While no official figures have been put forward, industry experts report that Nigeria’s solid mineral deposits are valued at over $1 trillion with some estimates as high as $5 trillion.

“Take, for example, my State, Ogun State, where we have over 15 natural mineral resources present in commercial quantities in all our local governments but only actively mine limestone, granite and laterite.

“In fact, we are the largest producer of solid mineral resources in Nigeria and account for just over 32.04 metric tons of mineral resources or 37.6% of national output.

“Imagine if, as a country, we are able to tap into all other solid minerals like gold, lithium, tantalite (a crucial mineral for electronics manufacturing), tin, barite, etc. The possibilities are endless, especially if we engage in value-chain addition in the country.”

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