By Kassim Omomia
Speaker of the House of Representatives, Honorable Femi Gbajabiamila yesterday warned the country that the era of oil was over.
He cautioned in his remarks at a public hearing on two House resolutions: “on the need for Nigeria to develop a long term social and economic development framework vision” as well as the “need to make adequate plans for a post- oil economy in Nigeria”,
Gbajabiamila noted that fossil fuels were yesterday’s news and no longer sustainable hence the world was racing away from the extractive economic model towards a knowledge economy model that prizes technological innovations and the marketplace of ideas over heavy industry and trade in natural resources
He stated that presently the country was at the mercy of global oil and gas price fluctuation which was increasingly on a sustained downward trend, and reasoned that it was compelling that the House of Representatives intervened now through legislative framework essential to secure Nigeria’s s future and the well-being of the people
The Speaker explained that the potentially dire consequences of the current national economic outlook have begun to manifest in troubling ways, especially by the escalating trend of insecurity across the country.
According to him, the country cannot shy away from these enormous challenges because they are there and must be surmounted either way if Nigeria must survive and build a foundation for future generation.
He suggested, however, that tackling the problems headlong requires an effective, efficient , National long – term Social and Economic Development Framework, that will be articulated by those in government and private sector in developing an acceptable strategic framework that will provide a pathway towards fixing the malaise that has too long mitigated against attaining the country’s full potentials.
“Such a framework will not be a product of politics or a tool for politicking. It is a foundation for national rebirth, as has been done successfully in other parts of World” the speaker said
Reps adjourn plenary, pay tribute to late colleague, Hon. Kila
He said the country must be resolute in her determination and unyielding commitment to overcome the challenges that confront her, which is why stakeholders in collaboration with the House of Representatives must engage in driving this process of national social rebirth and economic reorganization.
“We have a limited window of time to act before worsening circumstances force our hands in ways we cannot predict”, he further admonished, urging stakeholders to move with due haste, paying attention to all the intervening events without being distracted by them
