Business: Nigeria Must Diversify from Petroleum to Survive-Jonathan

President Goodluck Jonathan said Thursday in Beijing that the increasing exploitation and utilisation of shale gas and other alternative sources of energy by the United States and other advanced nations of the world has made it more urgent for Nigeria to move faster towards the diversification of its economy.

Speaking in an interview with China Television, President Jonathan said that the increasing utilisation of alternative sources of energy was a matter of concern for Nigeria and other oil exporting nations.

“That is why we have to increase the pace of diversifying our economy and moving our country away from dependence on the oil and gas industry.

“We must work towards greater industrialisation, add more value to our agricultural products, develop our solid minerals potentials and other sectors of our economy before the time comes when crude oil may no longer be dominant as a global source of energy,” the President said.