The Kwara State Commissioner for Information and Communication, Tunji Moronfoye has warned Nigerians to use the proceeds from oil judiciously to develop the entire country as the oil will dry up soonest.
The commissioner further cautioned the country to learn from Netherlands which had oil but squandered the proceeds without developing their country, warning that the same could befall the country if care is not taken.
Increment of the derivation, he added, is necessary but wondered why the previous proceeds from oil has not commensurate with the development in those regions.
The Commissioner made this disclosure while reacting to the logjam at the National Conference where delegates are at daggers drawn over the derivative formula.
