Nigeria Moving Away From Oil Dependence – Osinbajo

Vice President, Prof. Yemi Osinbajo on Tuesday said the nation is in the process of diversifying the economy from oil to other sectors such as agriculture, mining, solid minerals, and manufacturing.

A statement by Osinbajo’s spokesman, Laolu Akande disclosed that the vice president stated this while receiving a delegation from Nicaragua at the Presidential Villa, Abuja.

The vice president received the Nicaraguan Minister of Foreign Affairs, Denis Colindres, and the Nicaraguan Minister for Special Delegation of the President for Africa, Middle East and Arab, Mohamed Lashtar.

Osinbanjo also received on behalf of President Muhammadu Buhari, a special message from the President of Nicaragua, Daniel Ortega.

He said: “We are in the process of diversifying our economy from dependence on oil.

“Now, we are diversifying into different fields; agriculture, agribusiness, mining, solid minerals, manufacturing, technology and innovation.

Nigeria Moving Away From Oil Dependence – Osinbajo

“We are also interested in expanding our own reach in terms of trade and exports, especially the export of processed agricultural products.

“We are also diversifying our power sources, and developing our capacity in renewable energy.

“Recently, we commissioned, in Kano State, the largest solar hybrid power plant in Africa,” he said.

Osinbajo added that building an inclusive society was one of the core pillars of the Buhari administration.

In his remarks, Colindres requested that both countries should collaborate on the supply of Nigeria’s crude oil to Nicaragua.

He also sought the support of Nigeria for Nicaragua in its request for an observer status at the African Union (AU).

“We have already presented a draft cooperation agreement between Nigeria and Nicaragua,” Colindres said.



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