By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
NewsunplugNewsunplugNewsunplug
  • Home
  • News
  • Politics
  • Metro
  • Entertainment
  • Sports
  • Lifestyle
  • Journal
Reading: Nigeria’s over-reliance on oil primary export has become neither sustainable nor prudent. The future of oil is increasingly uncertain – Speaker Tajudeen Abbas
Share
Notification Show More
Font ResizerAa
Font ResizerAa
NewsunplugNewsunplug
  • Home
  • News
  • Politics
  • Metro
  • Entertainment
  • Sports
  • Lifestyle
  • Journal
Search
  • Home
  • News
  • Politics
  • Metro
  • Entertainment
  • Sports
  • Lifestyle
  • Journal
Have an existing account? Sign In
Follow US
Newsunplug > Blog > News > Nigeria’s over-reliance on oil primary export has become neither sustainable nor prudent. The future of oil is increasingly uncertain – Speaker Tajudeen Abbas
News

Nigeria’s over-reliance on oil primary export has become neither sustainable nor prudent. The future of oil is increasingly uncertain – Speaker Tajudeen Abbas

Godson
Last updated: July 23, 2024 4:42 am
Godson
Published: July 23, 2024
Share
SHARE

On Monday, July 22, Speaker of the House of Representatives Tajudeen Abbas emphasized the growing uncertainty surrounding oil as the mainstay of Nigeria’s economy, underscoring the urgent need to invest in alternative sectors.

During his speech at the ‘Second Interactive Session on Developing Bankable Business Proposals for Youth and Women in Agriculture’ in Abuja, organized by the African Development Bank Group in partnership with the International Institute of Tropical Agriculture (IITA), Nigerians in Diaspora Commission (NiDCOM), and the Nigerian Agricultural Insurance Commission (NAIC), Abbas reiterated the parliament’s commitment to enacting laws that facilitate low-interest loans to farmers through agricultural banks and financial institutions to ensure food security.

Represented by his deputy, Hon. Benjamin Kalu, Speaker Abbas highlighted the critical need for Nigeria to diversify its economy. “As we gather here, it is crucial to acknowledge that our over-reliance on oil as our primary export has become neither sustainable nor prudent. The future of oil is increasingly uncertain, especially as the global community shifts towards greener, more sustainable energy sources,” he stated.

He stressed the potential of agriculture and information technology as key areas for economic growth and sustainability. By focusing on developing and implementing bankable business proposals, the aim is to empower youth and women—two vital demographics in Nigerian society—to become significant contributors to these sectors.

“In line with our legislative agenda, we are committed to supporting youth development. By working closely with the executive branch, we aim to launch public work programs targeting young people, particularly in infrastructure development and agriculture,” Abbas noted.

He further emphasized the importance of a robust legislative framework to support agricultural banks and financial institutions in providing low-interest loans to farmers, which is essential for fostering a thriving agricultural economy.

Speaker Abbas called on the African Development Bank to continue its collaboration with the Committee on Cooperation and Integration in Africa, highlighting that this partnership is vital for advancing significant initiatives across the continent. “This collaboration also ensures that important projects from the African Development Bank will receive the support and attention they need to succeed from the legislative branch,” he concluded.

 

You Might Also Like

‘Unfounded Speculation’- CBN debunks reports it plans to phase out redesigned Naira Notes
Supreme Court Has Delivered 272 Judgments So Far, CJN Reveals
Grain Audio OEHP On-Ear Headphones, Save 25%
Complete AAK Gas Pipeline 2024, FG Tells Contractors
Trump issues order to defund U.S. public media, including PBS and NPR

Quick Link

  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index
Share This Article
Facebook Twitter Email Print
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0

Recent Posts

  • Buhari’s former aide, Bashir Ahmad gives condition to support Christian-Christian Presidential ticket
  • Ghana police arrest five suspects, rescue 57 Nigerian nationals from human trafficking and cybercrime syndicate
  • Police arrest 15-year-old serial robbery suspect in Gombe
  • I have never cheated in my relationship – Actress, Nkechi Blessing’s ex-boyfriend says as he shows off his new woman
  • Police arrest APC secretary in connection with d3ath of 45-year-old woman in Yobe

Recent Comments

No comments to show.

Categories

  • ES Money
  • U.K News
  • The Escapist
  • Insider
  • Science
  • Technology
  • LifeStyle
  • Marketing

About US

We influence 20 million users and is the number one business and technology news network on the planet.
Quick Link
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index
Top Categories
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index

Subscribe US

Subscribe to our newsletter to get our newest articles instantly!

[mc4wp_form]

Top Categories

  • Entertainment

Categories

  • ES Money
  • U.K News
  • The Escapist
  • Insider
  • Science
  • Technology
  • LifeStyle
  • Marketing

About US

We influence 20 million users and is the number one business and technology news network on the planet.
Quick Link
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index
Top Categories
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index

Subscribe US

Subscribe to our newsletter to get our newest articles instantly!

[mc4wp_form]
© 2023 Newsunplug | All Rights Reserved.
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?