Niger Delta oil won’t dry in another 100 years – Ex-Minister replies Osinbajo | Nigeria News Today. Your online Nigerian Newspaper

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A former Minister of State for Education, Olorogun Kenneth Gbagi, has insisted that oil well in the Niger Delta will not dry up in the next 100 years.



He made the remark in response to Osinbajo’s call for diversification of the nation’s economy because the value of oil would drop in the next 20 to 30 years.

In his reaction, the former Minister described Osinbajo’s comment as political without foundation, stressing that those in government must seek information where they do not have such.

Addressing reporters in Abuja, Gbagi also frowned at Osinbajo’s visit to Olu of Warrior, His Majesty, Ogiame Ikenwoli and not going to Urhobo land.

He claimed that the federal government took the people of Urhobo for granted for not visiting the area which was the hub of gas production.

According to Gbagi, “While we are looking for peace, the sensibility of Urhobo people should not be taken for granted, the Urhobo people have been taken for granted for too long in the scheme of things.

“Quoting the Vice President, at least 97% of the economy today is rested on oil and gas his claim that oil will soon finish or dry up is a political statement without foundation, the gas situated on Otolobo at least will last for another 100 years, taxpayers’ money earners like the Vice President and persons in government must seek information where they don’t have them and stop heating the polity.

“The visit of the Vice President is meaningless, made no statement; it is akin to a personal visit to the Olu of Warri as there is no policy statement from the government addressing the issues at hand.”

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  1. Ibe Kachikwu has messed up big time by not adequately preparing the Vice President for the ethnic rivalries in the Niger Delta and ensuring that the VP's trip did not hurt those sensibilities. First, for the VP to land at Osubi, received by the upland chiefs and kept those chiefs waiting from 9am to 5pm while he (the VP) went to visit the Ijaws, was a big blunder. I can certainly appreciate the anger of the Urhobo/Isoko/Itsekiri leaders over that itinerary.

    Kenneth Gbagi has twisted what the VP said about oil. The VP did not say that oil will dry up; he said the importance of oil will diminish - and that is already happening. Gbagi is just being mischievous. Also Kenneth Gbagi does not know the difference between oil contribution to export earnings and its contribution to the country's economy. Oil does not make up 97% of Nigerian's economy. In fact, when you look at the breakdown of Nigeria's GDP, oil makes up only 8%. GDP is the sum of goods and services produced in the country. However, oil makes up over 90% of what we export. That is a totally different thing. Kenneth Gbagi can do with some education, even though he was once Education Minister of State.

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