Nigeria’s vice president Osinbajo wants oil revenues used to diversify economy

Nigeria must use its oil and gas revenues to pursue its economic diversification agenda, its vice president, Yemi Osinbajo, said on Monday, in Abuja, the country’s capital.
He also said that it was important for the country to redouble its effort in investing the revenues in infrastructure and human capital development, which would ensure future economic growth and development for the country.
Osinbajo, who was declaring open the extraordinary session of the Council of Ministers of African Petroleum Producers Organisation (APPO), said Africa needed to form a united front in global energy discussion.
He asked that the APPO fund be opened to all, to allow private sector investments just like Organisation of the Petroleum Exporting Countries (OPEC), in order to overcome financial challenges as Africa has no reason or excuse to fail.
A revitalised APPO will contribute tremendously to the development of the African Oil and Gas industry, Osinbajo said.