Former Vice president, Alhaji Atiku Abubakar on Wednesday said Nigeria’s most valuable resource is not oil, but its people.
Atiku said this as the guest speaker at the investiture of the President of the Chartered Institute of Stockbrokers (CIS), Mr. Oluwaseyi Emmanuel Abe.
He said, “We need to understand that our most valuable resource is not our oil; it is our people. All of our people.”
The APC chieftain said the nation’s biggest problem is its addiction to oil, as he called for a restructuring of government finances.
“The biggest problem Nigerians have is their addiction to oil revenues; the belief that we are doomed unless oil flows and oil money fills the Federation Account for our tiers of government to share.
“I will go straight to the point: our economy is broken, and if we wait for the oil price to rebound or for crude exports to bounce back or for oil receipts to recover, we may wait for very long and may not be able to fix it.
“I say this because our constant complaints about the oil price, pipeline vandals and lack of funds tend to divert and distract us from the real challenges we are facing. To me, our economy is broken because our economic model doesn’t work, and to fix it we need the resolve to restructure our government finances so that we politicians have a real incentive to create a more conducive business environment.”