Why FG ought to look beyond oil and gas sector - Ruth Kadiri

Why FG ought to look beyond oil and gas sector - Ruth Kadiri
Ruth Kadiri

Film producer and actress Ruth Kadiri has explained why the federal government of Nigeria may not likely invest in other sectors to boost the country’s foreign exchange.

Ruth opined in an Instagram post on Friday that the government is fixated on oil and gas as well as securing loans from foreign countries because of selfish interest.

She alleged in an Instagram post on Friday that the oil and gas sector produces money that can be swiftly siphoned, however, other sectors like Agriculture do not.

The 33-year-old mother of one noted that the government would rather continue to watch the Naira nosedive than to stop borrowing and invest in other sectors that will drive the country’s economy forward.

Read her statement below;

"Do you know that even if you have been saving 1 Naira daily since 1st of January, you won’t still have 1 Dollar by 31st of December? That is how bad the Naira had fared against other currencies of the world.

"The union called Nigeria doesn’t seems to be working, but the government aren’t happy to hear that.

"To grow the value of our Naira, the government needs to stop borrowing and start looking inward for value propositions within the country itself.

"We have alternatives to oil and gas, but it is not going to be the fastest way to raise funds that will be siphoned by the government officials.

"That is why borrowing from China, Brazil and others is seemingly becoming the norm. That works faster and it is the easiest means of raising money than investing in agriculture and others alternatives we have,” she said.

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