Nigerians Should not Only Depend on Oil, says Muda Yusuf

Lagos Chamber of Commerce and Industry says the biggest shortcoming of the economy in the last 54 years is its dependence on oil.

Speaking on the Nigerian Economy at 54, LCCI Director General, Muda Yusuf said this has resulted in the economy been vulnerable to global shocks and weak in inclusiveness.

He said over 80 percent of the country's revenue is dependent on oil and over 90 percent of its foreign exchange depends on oil, which makes its fragile and unsustainable.