Saudi, others plan for life after oil but Nigeria unsure

Lagos State first oil derivation cash ready - Commissioner

Nigeria is once again being left behind as Saudi Arabia, the world’s largest oil producer, and other oil rich nations seek alternative sources of revenue. The sale of five percent of Saudi state-owned oil corporation- Aramco, and raising non-oil revenue are impending steps Saudi Arabia which has 28.8 million people, five times less than Nigeria’s
Saudi Arabia’s plans to overhaul every corner of its economy won’t spare the military.
The kingdom will put its armaments industry under a holding company as it prepares for a post-oil era. Part of that reboot will seek to meet more of its military needs domestically and diversify its economy, Deputy Crown Prince Mohammed bin Salman said.
Saudi Arabian stocks surged the most in seven weeks led by a real-estate firm as the prince outlined plans that included pressing ahead with infrastructure projects, boosting home ownership and opening the real-estate sector to foreign buyers.

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