Osinbajo urges African economies to look beyond oil revenue – Punch Newspapers


Vice President Yemi Osinbajo has called on African countries to look diversify their economies and look beyond oil-based revenue for future prosperity.

Osinbajo stated this in Abuja on Monday while declaring open the Extraordinary Session of the Council of Ministers of African Petroleum Producers Organisation.

According to the vice president, while oil and gas have continued to remain the mainstay of African economies, there is the need for the re-investment of oil revenues through diversification to prevent economic crises resulting from over-dependence on the product

“The lesson here is that, while oil and gas will continue to be critical to our revenue bases and our national economies, we must also redouble our efforts to achieve the following:

“One, to diversify our economies away…

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