Nigeria’s economic crisis rooted in over dependence on oil, says Oramah

The President and Chairman, Board of Directors, African Export and Import Bank (Afreximbank), Prof. Benedict Oramah, has blamed Nigeria’s economic crisis on over-dependence on oil revenue.

Oramah, who spoke yesterday in Yola during the 14th graduation ceremony of the American University of Nigeria (AUN), said the population of the country could not be smoothly managed on a mono-economic template.

He urged the graduating students to use the knowledge they got during their studies to transform Nigeria from an importing country to a producing nation.

His words: “A revolution is sweeping camps; the freedom fighters for this new battle are being trained in technical front with ideas, hard work and investments. While bravery was required to fundamentally alter our world, shatter old assumptions and reshape our lives, the current revolutionaries are of a different breed.

“It is peaceful and will be in factory floors and tech incubation centres. Instead of guns, the battle will be tech and not armed guerrillas; ideas and not bullets will constitute the potent. Courage is a necessity for the economic liberation struggle.”

The Acting President of AUN, Dr. Attahiru Yusuf, who commended the founder of the university, and former vice president Atiku Abubakar, said the institution has brought huge human and infrastructure development to the African continent and the world.

He disclosed that 234 students graduated during the ceremony.

Dignitaries present at the event included Abubakar, Governor Ahmadu Fintiri of Adamawa State and others.