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Nigeria To Earn More Oil Revenue As Price Of Crude Rises To $71.28

The federal republic of Nigeria, which is an oil driven economy because larger percentage of our national revenue is from sales of crude oil to foreign countries. Therefore, Nigeria is all set to welcome the high rise of petroleum prices in the international market.

This will means more revenue generation for the federal government and more productive economy. This reality is coming at a time when the hope for oil rise is almost fading as a result of massive adoption of alternative source of energy by the developed countries.

Nigerian government is gradually improving the economy by diversifying our over reliance on crude oil. The federal government has emphasized Nigerians to adopt agriculture and so far, the results are very outstanding.

For instance, the government of Kebbi state has tremendous surplus of rice that it even formed a rice pyramid. All these improvements is as a result of agricultural diversification of the economy.


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