Fall In Oil Price Will Make Nigeria’s Economy Better – National Planning Minister

Must Read

Coronavirus: ‘Consult Native Doctors For Solution’ – Enugu Monarch Tells FG

The traditional ruler of Owerre Autonomous Community in Nsukka Local Government Area,  Enugu State, Igwe Emeka Ugwu has asked the Nigerian...

Ministers Donate 50 Percent Of March Salary To Help Stop COVID-19 – Lai Mohammed

Nigeria's minister for culture and information, Alhaji Lai Mohammed says the 43 ministers of the nation have forfeited 50...

Coronavirus: US Moves To Evacuate Citizens In Nigeria

The US government has revealed plans to evacuate its citizens in Nigeria despite airport closures due to the coronavirus...

Coronavirus: All 51 Italian Doctors Who Tested Positive, Dead

The Italian Association of Doctors have confirmed the death of 51 doctors who all died after testing positive for...

Coronavirus: Enugu State Close Its Borders, Markets After Recording First Case

The Enugu State Government has announced the closure of its borders and markets, just after two cases of coronavirus...

As global oil price continue to fall, Minister of National Planning, Dr. Abubakar Sulaiman, has described the development as a blessing in disguise for Nigeria.

Sulaiman, who is also Deputy Chairman, National Planning Commission, said that the development would have a positive impact on Nigeria’s economy.

He gave the assurance, while speaking at an institutional lecture for Block 3 participants of the National Defence College (NDC) in Abuja in a paper, entitled National Planning and Vision 20:2020: An Assessment.

Explaining why he believed the oil price fall will have a positive impact on the economy, Sulaiman said since about 80 percent of the country’s revenue come from oil, the government will be challenged to break even.

“All we need do is explore other areas. The Customs has surpassed its target, same with FIRS. We need to block all loopholes which are what we are doing as a government.

“We can do without oil to survive, because there are nations who do not have oil and are pretty surviving. So, what are we talking about?

“The present administration is one that has foresight and had long prepared for this through its policies and programmes in various sectors, agriculture inclusive.

“Government is diversifying. It will affect us, but not to the extent people think. There are areas the country can still explore.

“It is a challenge. We should not be lazy; we should prepare for the future. Oil will not be there eternally,” he said.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More Articles Like This

- Advertisement -