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Nigeria’s Overdependence On Oil Revenue is Dangerous- Aregbesola

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By Okunade Adekunle

The immediate-past Governor of Osun State, Ogbeni Rauf Aregbesola, has said the overdependence of Nigeria on oil as major revenue source was dangerous to its economic sustainability, saying in the next 20 years, the country might not be able to produce up to her present quantity.

Aregbesola, who raised the alarm on Wednesday in Lagos, at the book launch tittled “ELENIYAN PERSPECTIVES” authored by a former lawmaker who represented Epe Constituency 2 in the Lagos State House of Assembly, Hon. Segun Olulade, stressed that the country should desist from relying on rents and patronage for survival.

He added: “Nigeria’s economy is tiny because the country had been for years living on rents and patronage which cannot sustain an economy. Nigeria produced 2.3 million barrels of oil a day and the point 3 can be cost of production. The 2 million barrels is what we share. If it is 100 dollars per barrel that is 200 million dollar and that means each Nigerian gets 1 dollar per day, which is N366 for each person per day”

Aregbesola, who spoke on the theme, ” You Can Be What You Want To Be”, lamented that Nigerians were used to relying on family to survive than working hard for their own finances.

While commenting on goal setting and realisation, Aregbesola said that people should be mindful of not setting unrealistic goal, saying that there were some goals that may not be realistic within the time frame.

“If you want to leave a happy life tie it to a goal not people. Not all goals are realistic. Goals can be realised when they are purpose driven.

On youth development and leadership, the former Osun Governor said that it was not easy becoming a political leader, advising the youths to equip themselves with relevant skills and acquire adequate education which would prepare them for leadership.

Aregbesola further stressed that the youths should desist from the attitude of wanting to get things freely, saying that they must understand that they would work hard to achieve greatness in life.

He advised people not to leave beyond their means, saying that they should spend on what they need than want.

Speaking further, Aregbesola said that it would be insane for him to accumulate wealth while in office as governor, saying “I never received a dime while I was governor because the house I lived was provided by the government including my security. My children are grown up and the white attire I wear were given to me free of charge. So what do I need salary for?”

“I didn’t receive a salary for the eight years I spent as Governor in Osun State and I never operated a bank account anywhere. I lived in a government house, I passes government roads, my security was provided by the government.

“Also, my children are grown and the government provided my clothes. My guests are taken care of by the government. I didn’t have a house of my own in Osogbo, the capital of Osun State. It is now I am thinking of getting a house in Osogbo and I have been contacting friends to help me.

“I have friends that have houses in Ilesha, Osun State who are begging people to live in the houses. Building a house there is a want and not need”, he said.

The confirmed minister said to politicians to invest in the system, saying they might not know when it pay them back. “We have been living on free money and this is very painful. Nigeria’s economy is too tiny and economy that is sole driven cannot be prosperous. The nation must be productive to create wealth.

“Nigeria produced 2.3 million barrels of oil a day and the point 3 can be cost of production. The 2 million barrels is what we share. If it is 100 dollars per barrel that is 200 million dollar and that means each Nigerian gets 1 dollar per day, which is N366 for each person per day.

“It is only education that can liberate the nation not miracle and this has gone beyond literacy”, he said

Earlier, the author, Olulade said that the book was a collection of his thoughts on selected topical issues within a period of 4years ( 2015-2019).

He disclosed that it comprises 23 independent chapters which could be read in chronological sequence or randomly.

Olulade added ” They bother on national issues, international discourse, tributes and objective criticism where necessary. Some topics were very controversial and attracted unprecedented reactions and debates from the public who are my followers on the social media”

The book launch was attended by many chieftains of the All Progressives Congress in Lagos including the Deputy Governor of Ogun State, Alhaja Noimot Oyedele, Majority Leader of the Lagos State House of Assembly, Hon. Sanai Agunbiade, the Chief Whip, and Hon Tunde Braimoh.

 

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