Why Nigeria’s Economy Should Be Diversified- APC Governors

Hamilton Nwosa
Writer

Ad

‎ ‎How Conflict and Piracy Endanger Global Oil and Gas Transit ‎

Rystad Energy's analysis indicates that the world's five most critical maritime chokepoints are facing escalating risks from conflict, piracy, and environmental hazards, posing a growing threat to global energy security. ‎ ‎These chokepoints, including the Strait of Malacca, Strait of Hormuz, Suez Canal/Bab el-Mandeb, Turkish Straits, and Cape of Good Hope, are vital for transporting…

Ranked: The Size of European Economies by GDP (PPP) in 2025

Key Takeaways Western Europe makes up the largest portion of the $43.8 trillion PPP-adjusted European economy, when measured in International dollars. Eastern Europe ($12.8T) outperforms both Northern ($7.8T) and Southern Europe ($8.3T) in PPP terms, helped in large part by the Russian economy ($7.2T). However, by nominal USD terms, Eastern Europe is the smallest ($4.6T), outweighed by…

Afreximbank launches $1bn African Trade and Distribution Company to boost value-added trade

By Obinna Uballa The African Export-Import Bank (Afreximbank) has launched the African Trade and Distribution Company (ATDC) to accelerate large scale trade in raw materials, minerals, and value-added goods across the continent. The initiative, announced on Tuesday during the ongoing Intra-African Trade Fair (IATF 2025) in Algiers, aims to strengthen Africa’s role in global value…

Ad

Outgoing and incoming governors under the aegis of Progressive Governors Forum, PGF, of the All Progressives Congress, APC, yesterday underscored the need for the diversification of the Nigeria’s economy.
The decision followed a communique raised at the end of one day pre-inaugural retreat of the governors in Abuja.According to the governors, running a mono economy dependent on oil has affected agriculture and other sectors which they said could become alternative national income earners.

The event which was declared open by the Vice-President-Elect, Professor Yemi Osinbajo on behalf of the President-Elect, General Muhammadu Buhari was well attended by the governors and Governors-Elect of the party, except Kaduna State governor-elect, Nasir El-Rufai who was visibly absent.Nigeria’s economy

Read also: Covid-19 Shocks: FEC Approves N2.3trn Package To Stimulate Economic Growth

The retreat also deliberated on some critical sectors of the economy which included security, economics, governance, infrastructure, Human and Capital Development.

Chairman of forum and Imo state governor, chief Rochas Okorocha told Journalists that it was necessary to hold the retreat to enable the incoming governors brainstorm on the ways of delivering on their campaign promises especially in the light of the dwindling international oil prices.

Meanwhile, details of the resolutions were:

*That the time to act and change Nigeria is now

*That all those who hold leadership positions in the party are ready to instigate the right followership that will produce results

*That the Nigerian economy needs to be diversified especially towards agriculture

*That the country cannot decide to entirely ban importations of foreign products but look for ways to create a competitive market with those products that are being imported

*That all APC governors will embark on a peer review mechanism to facilitate and replicate positive governance strategies and policies in all progressive states

*In conclusion, the retreat agreed that from the day of inauguration, the activities of the progressives will determine the stature of the party for the future; hence the need for all to begin works that will speak rather than a replication of promises.

Ad

Unlocking Opportunities in the Gulf of Guinea during UNGA80
X whatsapp