Vice President, Prof. Yemi Osinbajo,has said that revenue currently flowing into the nation’s treasury is being driven or generated majorly from non -oil sector of the economy.
Osinbajo,who disclosed this at the 51st Annual International Conference of Nigerian Society of Chemical Engineers(NSCHE) held in Lagos said the Federal Government has been working tirelessly to diversify the economy.
He emphasized the need for Nigeria not to be caught unawares by the implications of over- dependence on crude oil and gas exports.
According to him,many technologically advanced nations of the world have switched to clean and renewable energy.
He added: “Many countries in different continents are now preparing themselves to depend less on fossil fuel. Electric cars are found on the roads and streets of many of the technologically developed countries of the world.
“This has sent a clear signal and a strong message that fossil fuel will not be as important as they are in the years to come.
“Our nation must prepare for a future where crude oil, which has for long been our major source of revenue will no longer occupy its prominent position in the economies of many nations. “
Osinbajo,who was represented at the event by the Minister of Science, Technology and Innovation, Dr. Ogbonnaya Onu, implored Nigerian manufacturers to produce almost everything that is needed in the country, as it would lead to less exports, strengthen naira and boost the economy.
He spoke on the activities of chemical engineers, saying they are process engineers .
He advised that they should be at the mainstream to ensure that Nigeria becomes self-reliant.
He added:”As process engineers, you will add value to our numerous raw materials converting them into products. The nation needs you to achieve food security; produce enough water for human consumption, agricultural and industrial use, provide shelter for our people; clothe both the old and the young; solve our energy and transportation problems; provide drugs and medical equipment for our healthcare; and provide necessary equipment to help us secure our nation.”
He tasked chemical engineers to revise their academic curriculum, so as to train and prepare engineers for the next decade,adding that the development is the best way to ensure that Nigeria fights and defeats extreme poverty.
