President Muhammadu Buhari has said that Nigeria will have to depend on oil and gas revenues to get out of the present recession.
Speaking at the public presentation of the Roadmap for the Petroleum Industry tagged “7 Big Wins to Grow Nigeria’s Oil and Gas” in Abuja, he said that despite the fall in oil price, oil and gas resources still remain the most immediate and practical keys out of our present economic crisis.
Buhari said that the petroleum industry remained critical to the Nigerian economy of today and the future despite current challenges.
The president also admitted that oil and gas
still remained a critical enabler for the successful implementation of his budget as well as the source of funds for laying a strong foundation for a new and more diversified economy.
He said: “As important as it is to ensure that agriculture, solid minerals and other critical sectors of the economy are supported to grow and contribute more to the nation’s economy, we still need a virile and efficient oil and gas industry to take care of our foreign exchange requirements.”
According to him, an efficient oil and gas sector remains a national imperative and a core thrust of his economic policy.
