To bolster the lull economic activities in the Niger Delta, Nigeria’s Vice President, Yemi Osinbajo has assured that the current administration would complete the development of all the seaports in the area.
Osinbajo who spoke at Gbaramatu Voice 6th Anniversary Lecture in Lagos said: “The theme you have chosen, ‘The Dwindling State of Crude Oil Demand in the Global Market: The Way Forward’, is especially timely. It is no secret that revenue from crude oil accounts for about 90 per cent of our foreign exchange earnings.
According to him, “the Federal Government is developing a number of deep seaports across the region, including the Bonny, Warri and Ibom Deep Sea Ports, among other development projects such as the establishment of Export Processing Zones to boost economic activities, which will be operational soon.
“In the last decade, we have borne witness to the revolution in tracking technology, which led to the Shale boom and the attendant decline in demand for our crude oil. In the past year, the impact of the COVID-19 pandemic has had an equally adverse impact on global energy demand and hence on our earnings.
“Thus, the current situation, more than ever before, calls for a creative and holistic approach to the task of fostering economic growth.
“Beyond its oil wealth, Niger Delta is incredibly blessed with diverse human capital across education, sports, technology, creative arts, entertainment, economy and many other sectors.
“Even before the onslaught of the pandemic, the imperatives before us had become clear and we had responded accordingly. Right from the inception of this administration, we have demonstrated a commitment towards the challenge of creating economic opportunities for our fast-growing population in a post-oil future.”
“In 2017, following my tour of Niger Delta, which involved extensive consultations with key stakeholders in the region, the New Vision for Niger Delta was birthed in response to the various challenges, which had been plaguing our people.
