Abiodun advises stakeholders to diversify economy

Ogun State Governor, Dapo Abiodun, has called on stakeholders to diversify the country’s economy from oil to non-oil sectors such as mining, agriculture, manufacturing, tourism, and technology, for it to be sustainable.

The governor made the call, according to a statement, during the sixth Senator Abiola Ajimobi Roundtable and the 74th posthumous birthday organised by the Senator Abiola Ajimobi Foundation in collaboration with the Institute for Peace and Strategic Studies, University of Ibadan, on Saturday.

Abiodun said, “Nigeria is blessed with an abundance of over 40 commercially viable mineral and natural resources that we as a people and the 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 $1tn with some estimates as high as $5tn.

“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.”

“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 per cent of national output. Imagine if, as a country, we could 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.”

Also speaking at the event, the Minister for Power, Adebayo Adelabu, lamented that many multi-nationals had pulled out of Nigeria because of the high cost of doing business in the country, noting that it was high time Nigeria began to focus on education, youth development, and technical training.