Oil price slump will not ground Lagos economy -- Fashola

The continuous fall in crude oil price at the international market will not ground the Lagos State economy, Gov. Babatunde Fashola said on Tuesday.

Fashola said this at the formal presentation of the state`s 2012-2025 Development Plan in Ikeja.

According to him, the Lagos economy was not built to rely on earnings from any extractive resource.

``The uncertainties in the oil market cannot have serious effects on the state`s economy.

Oil price fall didn't take us by surprise -- Jonathan

President Goodluck Jonathan on Tuesday in Abuja said that the falling price of crude oil did not take his administration by surprise.

Jonathan stated this while launching the Youth Employment in Agriculture Programme (YEAP) and the Fund for Agricultural Finance in Nigeria (FAFIN) at the Presidential Villa, Abuja.

He said that government foresaw the crisis hence the launch of the Agricultural Transformation Agenda (ATA) three years ago designed to diversify the country's revenue base.

Why Nigeria is affected by dwindling crude oil price- Omar

Omar, NLC President

Malam Abdulwaheed Omar, the President, Nigeria Labour Congress (NLC), has said that the dwindling crude oil price is affecting the country because Nigeria has never imbibed the culture of saving.

Omar spoke at a briefing on the ongoing strike by NUPENG and PENGASSAN on Tuesday that it was the refusal of government to fulfill agreements reached with the unions that led to strike.