Oil price increase should not affect economic diversification – Assemblyman — Daily Times Nigeria Press "Enter" to skip to content

Oil price increase should not affect economic diversification – Assemblyman

A member of Osun House of Assembly, Mr Olatunbosun Oyintiloye, has urged the Federal Government not to allow the slight improvement in the price of crude oil at the international market affects its economic diversification policy.

Oyintiloye (APC-Obokun), said this on Sunday in Osogbo.

“While an increase in the price of crude oil at the international market was desirable, it should not be seen as the panacea to the economic challenge in the country.”

“Recently, the price of crude oil at the international market was reported to have moved up to between 69/70 dollars.”

“This slight increase should not affect our economic diversification but rather, the government must begin to focus on other sectors for economic stability.’’

According to him, the over-dependence of the nation on crude oil among other factors is responsible for the economic challenges the nation is facing.

Oyintiloye, who chairs the House Committee on Information and Strategy, said it was high time that the nation began to deepen productive activities in other sectors such as Agriculture, Tourism and Solid minerals.

He said that the nation needed to invest immensely in education, science and technology and also learn to take advantage of the digital age to create new opportunities for younger generations.

Oyintiloye, however, said that he was confident that the economy would get better through determination of the Federal Government and resilience of the state’s government to grow the national economy.

Be First to Comment

Leave a Reply

shares