Founder of the Lagos Business School (LBS), Professor Pat Utomi, has proffered solutions on how to ensure that the nation derives maximum benefits from her fledging oil and gas sector and ensure its steady growth.
The don spoke last week at the institution’s Roundtable lectures which focused on ‘Current Issues in the Nigerian Oil and Gas Industry’.
Utomi who also moderated the roundtable advocated communication and dialogue for what he described as a win-win situation, even as he called for community participation in the oil and gas industry to check militancy.
”We need to change our mindset and train people to become competent in managing the industry and the resources”, he stressed even as he argued that competence, corruption and character are the antidote needed to move the industry forward.
According to him, it is lamentable that some countries such as Indonesia which join the league of oil producing nations after Nigeria have developed he sector beyond the level which Nigeria is at the moment.
Speaking on the topic: ‘The Role of Oil Industry in Nigeria’s Economic Development”, partner, McKinsey & Company, Mr Occo Roelofsen agreed with the points that Utomi raised, saying the points were germane if Nigeria is serious about becoming one of the top 20 economies by year 2020.
According to him, in achieving this goal, natural resources will continue to play vital role, adding that "Nigeria falls behind in GDP growth compared to other oil and gas countries."