News
Industrialist Regrets Over Dependence On Oil
An industrialist, Chief Femi Deru, yesterday said that values of entrepreneurship, professionalism, integrity and hardwork had been relegated to the background in Nigeria because of over reliance on crude oil.
Deru, president of the Lagos Chamber of Commerce and Industry (LCCI), made the observation in Ijebu-Ode on Thursday at the maiden summit of Ijebu professional Excellence foundation.
The theme of the conference is “the Outlook of Nigerian Economy.”
Deru said that heavy reliance on crude oil had brought a big setback to the Nigerian economy.
He said that due to heavy reliance on crude oil, which he described as a non-renewable resource, professionalism and hard work had been ignored over the years.
Deru noted that the Nigeria economy had evolved since independence from an agrarian economy to an oil-dependent economy.
He said that agriculture and manufacturing had progressively moved out of reckoning to contribute less than five per cent to the national output.
The industrialist said that agriculture and solid mineral sectors, which used to be the mainstay of the economy, had suffered from a long period of neglect.
According to him, “the discovery of oil in Nigeria changed the character of the economy and commercial development in the country.”
“It has caused the abandonment of agriculture and agro-allied industries which have the potential of increasing our gross domestic product and provide employment for greater number of the citizenry.
“The way forward for our economy is to do everything possible to encourage entrepreneurs and professionalism.
“This is the way to go if we must diversify our economy; create jobs; reduce unemployment; minimise criminality and above all, advance the welfare of our people.
“For this to happen, government must create the right environment for businesses to thrive.
“Tackle the problem of infrastructure, the quality of public institutions, ensure and investment-friendly financial system and foster the right policy environment,” Deru said.
He said that the country needed strong economy to support its democracy, create jobs and alleviate poverty to guarantee security and easy social tension.
Deru called on the government and private sector operators to continuously emphasise values of entrepreneurship, hardwork, professionalism, excellence and integrity for a stronger economy.
The Chief of Army Staff (COAS), Lt.-Gen. Waidi Shaibu, has tasked troops of Operation SAVANNAH SHIELD to dominate the battlespace and intensify offensive operations against kidnappers, bandits and other criminal elements in the North Central region.
Shaibu gave the directive yesterday during his maiden operational visit to the Headquarters, Joint Task Force North Central (JTF-NC), at Sobi Barracks, Ilorin.
This is contained in a statement by the Acting Director, Army Public Relations, Col. Appolonia Anele, in Abuja, yesterday.
Shaibu said the Nigerian Army would remain resolute in its constitutional responsibility of safeguarding lives and property, stressing that troops must sustain pressure to decisively deny criminal elements freedom of action.
He assured personnel of continued deployment of combat enablers and operational resources to enhance clearance operations and dismantle criminal hideouts across Kwara and Niger states.
The COAS reaffirmed his commitment to troop welfare, noting that improved welfare remained critical to sustaining morale, operational effectiveness and combat readiness.
He urged the troops to remain disciplined, professional and loyal to the Constitution and the democratically elected government.
Earlier, the Theatre Commander, JTF-NC Operation SAVANNAH SHIELD, Maj.-Gen. Yakubu Yahaya, commended the COAS for his strategic leadership and support.
Yahaya assured that troops would remain committed and steadfast in restoring peace and stability in the region.
The Nigerian Navy says it is expanding training and infrastructure to address emerging security threats and strengthen operational efficiency across formations and units nationwide.
The Chief of Naval Staff, Vice Adm. Idi Abbas, spoke during the inauguration of projects at the Nigerian Navy Basic Training School (NNBTS) in Onne, Rivers as part of activities marking the Nigerian Navy’s 70th anniversary.
Abbas, represented by the Flag Officer Commanding, Naval Training Command (NAVTRAC), Rear Adm. Ebiobowei Zipele, said the projects reflected significant progress made by the navy since its establishment in 1956 from the British Royal Navy.
“Training and infrastructure have improved significantly to meet contemporary security challenges and fulfil the navy’s constitutional responsibilities.”
According to him, the anniversary provides the navy an opportunity to reflect on its achievements and contributions over the past seven decades.
Projects inaugurated included a remodelled female trainees’ hostel accommodating more than 500 occupants and an expanded golf course upgraded from one to nine holes.
Others were the NNBTS fuel dump, Chief Boatswain’s Mate House, renovated pharmacy department and a new theatre block at the Naval Medical Centre, Onne.
Abbas described the new theatre as a major milestone for the navy’s medical services.
“Previously, injured personnel requiring surgeries were referred outside the facility.
“With this theatre, surgeries can now be conducted within the base.’’
He added that a 30KVA inverter had also been installed to guarantee uninterrupted electricity supply at the training school.
The naval chief assured officers, ratings and trainees that the navy leadership remained committed to their welfare and wellbeing.
“These infrastructure upgrades show the commitment of the Chief of Naval Staff to addressing operational and welfare challenges promptly,” he said.
In addition, NAVTRAC distributed educational materials to pupils of Community Primary Schools One and Two, Ogale, in Ebubu-Eleme area of Rivers.
Items distributed included exercise books, school bags and other writing materials as part of the navy’s civil-military engagement initiative.
Zipele said the outreach was designed to strengthen relations between the navy and host communities while supporting children’s education.
“Education remains critical to national growth and youth empowerment. Some of these pupils may eventually serve in the Nigerian Navy,” he said.
He noted that the initiative demonstrated the navy’s commitment to educational development, peace, security and sustainable community relations.
Zipele urged the pupils to remain disciplined, focused and committed to their studies while embracing patriotism, integrity and hard work.
He thanked the Ebubu community for its continued support for the naval training command headquarters and the navy.
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