21 September 2017, Sweetcrude, Port Harcourt – Vice President Yemi Osinbajo has called on stakeholders in the oil sector and oil producing areas to make effective use of the proceeds from oil to develop their immediate environment.
20 September 2017, Sweetcrude, Port Harcourt – Vice President Yemi Osinbajo has called on stakeholders in the oil sector and oil producing areas to make effective use of the proceeds from oil to develop their immediate environment.
Osinbajo said that many countries of the world were developing alternatives to oil, adding that this meant that the value of Nigeria’s crude oil would continue to diminish.
Speaking at a Niger Delta Summit in Akure, Ondo State capital with the theme: “Fast-tracking the Development and Peace in Niger Delta” aimed at finding lasting peace in the Niger Delta states, Osinbajo announced that the world was gradually moving away from oil.
The vice president charged stakeholders in the region to join in finding an alternative to oil, noting: “We should use the oil resources to develop other potentials of the region and it is the duty of this council to provide that roadmap for the future.
“The future of oil is in decline, which is why it is the duty of all stakeholders to explore all the opportunities now and to ensure the government is not constantly battling with the security of the pipelines.
“We should use the resources to develop other potentials of the region. Many of the countries in Europe have set deadlines for phasing out cars using hydrocarbon,” he said.
Osinbajo restated the resolve of the Federal Government to support the building of modular refineries in the Niger Delta, noting that many of the licenses given for the refineries had expired, while the owners were still sourcing for funds.
“We have released the guidelines for the refineries and we are committed to it. We expect the state governments to work with the local communities to make the efforts successful.”
He described the Niger Delta as a unique region with many challenges. He noted that the region did not need sympathy, stressing that what was required was action to improve on the lives of the people. “This is not optional,” he declared.