Nigerian Tribune: Falling oil price, great opportunity for Nigeria

In the last couple of months, the price of oil has been falling in the international market, and this has to do with the slowing down of the global economy, as well as the local production of shale gas by the United States.

While some people within government circles are fretting that this could negatively impact the finances of government, it is a big opportunity for the country to diversify its economy.

There are many countries without any natural resource, but they are doing just fine. Japan and South Korea are examples of countries without natural resources, but they are among the most developed countries in the world today.

Nigeria should look elsewhere in order to boost its falling revenues occasioned by the fall in oil price. Even before now, energy experts believe the Nigerian oil could run dry in the next 40 years, and we have not done anything tangible with the money we have made from this black gold in the last couple of years.
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