Speakers at a one-day lecture have advocated a return to regional economies as a way out of the current economic recession.
They spoke at third distinguished lecture Series of Ife Business School at the Obafemi Awolowo University, Ile Ife, Osun state.
Speakers including the Anambra state governor, Willie Obianor, former secretary to the government of the federation, Olu Falae and the Ooni of Ife, Oba Adeyeye Ogunwusi said the way to go is to de-emphasise over-reliance on crude oil.
Governor Obianor who was represented by the Anambra state head of service, Harry Udu said it is saddening that even in the midst of the current economic recession occasioned by the crash in oil prices, Nigeria still looks up with hope to oil sector for rescue.
He asked Nigerians to see the current challenge as a blessing in disguise as it should prepare Nigeria for the much awaited post-oil economy.
Former secretary to the government of the federation, Olu Falae wants Nigeria to go back regional economy which will provide ground for healthy economic rivalry among the regions and allow them to focus on their area of comparative advantage.