An economic researcher, Ogunsanwo Babajide on Tuesday gave a detailed historical background of Nigeria’s journey since independence.
Babajide, who was a guest on Channels Television’s Independence Day edition of Sunrise Daily, noted that Nigeria “earned N166 million from oil” stating that “between 1960-1970 there was no statistically significant records of the federal government using oil proceeds to fund the economy”.
He however revealed that in 1970 the plan to diversify the economy began to rise but he lamented that decades after the plan, it is yet to come into fruition.
He described as “ugly” Nigeria’s move to improve the economy since independence till date.