The former CBN boss, who disclosed this in a post on his Instagram page @sanusilamidosanusi, stated that “oil is not the future of Nigeria”.
“The Lagos story is a story of what Nigeria can do with itself – transparency, consistency, regulations. That’s why today Lagos state is 30% Nigerian non-oil GDP, and Lagos can do without oil.
“Every part of the country is important. But, let us not be so obsessed by a resource, because we have had the commodity driven model, and we are blind to the potentials of an alternative model.
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“Lagos doesn’t need oil. What is oil anyway? It is a raw material. You don’t drink it. You need it to move your vehicles. Now, you have electricity. You need it to fill your generator. Now you have solar power, and biomass.
The future of oil is not there. So, those few people who are trying to break up this country over oil, after sometime that oil will be worthless.”
Following the several attacks of the militants on the various major oil pipeline, Nigerian crude oil production has dropped to its lowest in more than a decade.
Niger Delta Avengers, a militant group emerged in February to declare war against national and international oil companies operating in the Niger Delta region.
The group claim that the government is favoring the industry and the corresponding revenue stream over the welfare of the people living in the Niger Delta.