Prof. Ibibia Lucky Worika, Professor of Environmental Law at Rivers State University, has advocated for structural economic policies to drive constant, consistent, and progressive development in Nigeria, an oil and gas producing country.
The don made the call while speaking with Journalists after presenting a paper titled _“Tripod War: The United States, Israel and Iran Conflicts, Impact on Global Oil and Gas Market, Economic Growth and Environmental Sustainability” at the 5th Hybrid Workshop.
The workshop was organized by the Association of Environmental Lawyers of Nigeria, AELN, in collaboration with the NBA Institute of Continuing Legal Education.
According to him, Nigeria was adversely affected by the war because previous administrations lacked structural economic policies to drive growth. He noted that the country’s over-dependence on oil means it still operates a mono-economy despite years of calls for diversification by past leaders.
He compared Nigeria with Australia, saying the latter, despite having fewer resources, is ranked the sixth richest country in the world, while Nigeria with abundant resources still struggles with basic economic issues.
Prof. Worika expressed hope that the present administration under the President Bola Ahmed Tinubu would make economic diversification a key priority for growth. He said although the current economic policies may not have impacted ordinary Nigerians yet, citizens will feel the positive effects in due time.
By Ben Owen Asuk
