Former United States Ambassador to Nigeria, Walter Carrington says Nigeria must diversity its source of export earnings rather than relying on crude oil earnings alone if it must achieve growth.
He said falling oil prices in 2016 underscored the necessity for oil revenue dependent economies, like Nigeria’s, to diversify their sources of export earnings.
“ If the signs that oil prices may recover prove to be accurate, it is incumbent upon countries like Nigeria to direct more of that revenue to growth enhancing sectors like agriculture, energy and infrastructure,” Carrington said on while delivering a lecture titled: “Nigeria and Africa in a Changing World,” organised by the Lagos State Office of Overseas Affairs and Investment. It was held alongside the public…
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