Reps unhappy with overdependence on oil revenue

The Guardian Nigeria | Jun 2, 2020 at 2:00 AM
  • The House of Representatives is unhappy that oil revenues remains the mainstay of the nation’s economy.
  • Calling on the authorities to set up a special committee to deliberate on the post-oil economy in Nigeria and make appropriate recommendations that would guarantee the survival of the nation’s economy; the House mandated its Committees on Petroleum Resources (Downstream and Upstream) and National Planning and Economic development to ensure compliance.
  • The lawmaker remarked that as a result of technological developments and breakthroughs, many advanced countries of the world have indicated their intentions to phase out the production of vehicles powered by petrol and diesel and replace them with the ones powered by renewable energy, at various times before year 2040.