Agbakoba tasks political office aspirants on economy sustenance campaigns

Dr Oilsa Agbakoba, a Senior Advocate of Nigeria (SAN) and Maritime Lawyer, on Wednesday tasked all political office aspirants in Nigeria to focus their campaigns on how to generate revenue to sustain the nation's economy.
The maritime expert made this call in Lagos at a press briefing in Lagos.

He said that it became paramount to have this focus bearing in mind continuous drop in oil prices at the international market. 

“Revenue generation should be a topical issue. How can Nigeria survive in view of dwindling fortunes in the oil sector? This should have been made a key campaign.

Elsewhere, economic issues, immigration, labour dominate campaigns.  It is hightime the contestants spoke their mind on this issue which is critical to the nation,” Agbakoba said.

According to the maritime expert, the maritime sector is capable of serving as ‘backbone’ to the Nigerian economy if its potentials are well harnessed.

He noted that ignoring the needed attention that the maritime sector deserves would be negligence to a sector that can save the nation’s economy.

“Furthermore, shipping and maritime sector are crucial to maximizing oil potentials because ships, rigs are classified as vessels under our laws.

“Thus, a strong shipping framework is fundamental to strong oil economy and a country such as Nigeria can only ignore it to the detriment of the economy,” he said.

He recalled that the Finance Minister, Dr  Ngozi Okojo-Iweala, had called attention of the need for the nation to explore new revenue resources as a result of the dwindling oil price.

He said that the statement was justified when the situation adversely affected the Budget for the current year.

“The Federal Budget of N4 trillion is predicated on 73 dollars per barrel.

“At current price of 46 dollars per barrel, this has halved the value of the budget by nearly 50 per cent,” he said.