Dr Oilsa Agbakoba, a Senior Advocate
of Nigeria (SAN) and Maritime Lawyer, on Wednesday tasked all political office aspirants in Nigeria to focus their campaigns on how to generate
revenue to sustain the nation’s economy.
of Nigeria (SAN) and Maritime Lawyer, on Wednesday tasked all political office aspirants in Nigeria to focus their campaigns on how to generate
revenue to sustain the nation’s economy.
The maritime expert made this call in
Lagos at a press briefing in Lagos.
He said that it became paramount to
have this focus bearing in mind continuous drop in oil prices at the
international market.
have this focus bearing in mind continuous drop in oil prices at the
international market.
“Revenue generation should be a
topical issue. How can Nigeria survive in view of dwindling fortunes in the oil
sector? This should have been made a key campaign.
topical issue. How can Nigeria survive in view of dwindling fortunes in the oil
sector? This should have been made a key campaign.
Elsewhere, economic issues,
immigration, labour dominate campaigns. It is hightime the contestants spoke their
mind on this issue which is critical to the nation,” Agbakoba said.
immigration, labour dominate campaigns. It is hightime the contestants spoke their
mind on this issue which is critical to the nation,” Agbakoba said.
According to the maritime expert, the
maritime sector is capable of serving as ‘backbone’ to the Nigerian economy if
its potentials are well harnessed.
maritime sector is capable of serving as ‘backbone’ to the Nigerian economy if
its potentials are well harnessed.
He noted that ignoring the needed
attention that the maritime sector deserves would be negligence to a sector
that can save the nation’s economy.
attention that the maritime sector deserves would be negligence to a sector
that can save the nation’s economy.
“Furthermore, shipping and maritime
sector are crucial to maximizing oil potentials because ships, rigs are
classified as vessels under our laws.
sector are crucial to maximizing oil potentials because ships, rigs are
classified as vessels under our laws.
“Thus, a strong shipping framework is
fundamental to strong oil economy and a country such as Nigeria can only ignore
it to the detriment of the economy,” he said.
fundamental to strong oil economy and a country such as Nigeria can only ignore
it to the detriment of the economy,” he said.
He recalled that the Finance Minister,
Dr Ngozi Okojo-Iweala, had called
attention of the need for the nation to explore new revenue resources as a
result of the dwindling oil price.
Dr Ngozi Okojo-Iweala, had called
attention of the need for the nation to explore new revenue resources as a
result of the dwindling oil price.
He said that the statement was
justified when the situation adversely affected the Budget for the current
year.
justified when the situation adversely affected the Budget for the current
year.
“The Federal Budget of N4 trillion is
predicated on 73 dollars per barrel.
predicated on 73 dollars per barrel.
“At current price of 46 dollars per
barrel, this has halved the value of the budget by nearly 50 per cent,” he
said.
barrel, this has halved the value of the budget by nearly 50 per cent,” he
said.
