CBN Urges Nigerians to stop Dependence On Crude Oil

CBN Governor, Godwin Emefiele, has said that Nigeria must stop its absolute dependence on crude oil to secure public revenue and foreign exchange for the country.

Mr. Godwin Emefiele expressed his disappointment and concern on saturday in Abuja during a ceremony to mark the end of the 2020 CBN Governor’s Golf Cup tournament.

The CBN governor said that Nigeria needs to use other untapped economic potentials in the country if we intend to move out of the current economic recession.

He also noted that sports cannot be overlooked while utilizing other available resources to ensure the development and growth of the country since it brings about foreign exchange.


“The Central Bank Of Nigeria consistency in promoting golf and other similar sports in the country has showed an impressive impact on the youths.

“We have been working endlessly to promote youth empowerment and development not only through sporting events, but also through development of reliable finance initiatives and schemes.

“Some of our initiatives include Youth Entrepreneurship Development Scheme, Micro Small and Medium Enterprises Development, Agri-Business and Small and Medium Enterprises Investment Scheme and other innovative and amazing programs meant to transform the lives of the youths in Nigeria.

“However, He urged Nigerians to utilize these opportunities so they would be able to actively contribute to the country’s growth and development,”