Governor Oluwarotimi Akeredolu of Ondo State has urged the Federal Government and other stakeholders to seize the opportunity provided by the nation’s oil deposits to fast-track the development of the nation as an insurance against a future without oil.
The governor made the call when he delivered a lecture at the Federal University of Technology, Akure (FUTA).
Akeredolu, who was represented by his Special Adviser on Public Utilities, Tunji Ariyomo, said: “It is important and urgent for government, at all levels, to develop the various sectors to a point of self-reliance without oil.”
He warned that the nation would run out of oil deposit in the next 44 years and advised that whatever accrues to the nation should be used judiciously as strategic investment for unborn generations.
“It is significant to note that Nigeria’s proven crude oil reserve is 37.2 billion barrels, an equivalent of 5.9 billion cubic metres. Simple arithmetic suggests that, all things being equal, this would only last for 16,000 days or 44 years. Read more