Economy diversification is a priority, says Osinbajo

In the face of uncertainties in the oil and gas industry, the Federal Government of Nigeria on Monday, reiterated its commitment to diversifying the economy through agriculture and industrialisation.

Vice President Yemi Osinbajo, who is currently on a two-day working visit to Nigeria’s commercial capital, Lagos.

Shortly after his arrival at the presidential wing of the Murtala Mohammed Airport, at about 9.56 a.m. local time, Professor Osinbajo went straight to commission some projects built by the state government.

The projects include the Ago Palace Road in the Okota area of the state, a clinic in Oshodi for the State Emergency Management Agency, as well as some security equipment, including 335 power bikes for the state police command.

Professor Osinbajo, who is representing President Muhammadu Buhari on the visit is expected to meet with the business community in Lagos and the state civil service on Tuesday.

President Buhari had put off his visit on Sunday, saying he would visit Lagos State on a date which was not disclosed.

Nigeria’s economy depends largely on sales of crude, but the volatile nature of crude oil price has forced the nation to look back at agriculture which was the mainstay of the nation’s economy before the discovery of crude oil.

The current administration like previous ones is harping on developing the agribusiness sector to boost its contribution to the nation’s GDP which has been on a decline in the last few months.