Osibanjo decries over-dependence on oil

The Vice-President, Yemi Osinbajo has described Nigeria’s over-dependence on oil resources as a major factor responsible for the high level of corruption in the country.
He also identified  restiveness and agitation for resource control, especially in the South-south geo-political region to over-reliance on oil.
Speaking in Port Harcourt at the inauguration of the Partners for Sustainable Development (PSD) Forum organised by the Niger Delta Development, the Vice President who was represented by the Deputy Chief of Staff in the Presidency, . Adeola Ipaye, said the theme of the forum: ‘Restrategising Development Concepts in the Niger Delta Region to Provide for Post-Oil Wealth Socio-economic Sustainability,’ was strategic and apt because of the current global decline in oil revenue.
He said: “The country’s over-dependence on oil is only the cause of the downturn of the economy for now; it has been responsible for the emergence of redundant human resource base and high level of corruption”.
The Vice President added:  “It (over-dependence on oil resources) is also at the root of agitations for resource control, particularly from the South-south. The theme of the forum could not have been more apt, coming at the time that we have a global decline in oil revenue, especially in a country such as ours that has total dependence on oil for survival.”