In 2012, President Obama of the United States said that oil is the - TopicsExpress

In 2012, President Obama of the United States said that oil is the fuel of the past; that is a major statement and if you had a competent leadership, national policy would have taken note of it, fully understood it and adjusted. Right now, the quantity of Nigerian crude purchased by America has been on the decline which is a physical confirmation of the Obama statement . This is a country that gets over 80 percent of its internal revenue from oil and, therefore, the collapse of oil is the collapse of the Nigerian economy. Therefore, an oil glut would be a major economic tragedy for Nigeria because our economy is not diversified . Many have said the discovery of oil is a curse to Nigeria, but it is not so, rather poor leadership is a great curse that has befallen Nigeria.

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