It could be argued that the government’s transformation agenda would succeed only to the extent that the petroleum sector is transformed. The reason is that oil exports and proceeds from domestic sales account for nearly 80% of all federally- generated revenues and 95% of foreign exchange earnings. This statistics demonstrate that Nigeria operate largely a mono- product economy.
Therefore, one wonders why too much politics gets in the way of the passage of crucial bills such as the PIB, and the Gas Master Plan. Sometimes, one is tempted to doubt the patriotic credentials of those public officers who are responsible for ensuring the passage of such bills.
– See more at: http://www.vanguardngr.com/2014/01/national-assembly-passage-pib/#sthash.8sTkDIM0.dpuf