He urged the Federal Government to explore other sectors of the economy like mining, agriculture.
While advocating for the diversification of of the economy, Akpabio said the global economic meltdown is being felt more by Nigerians because the country runs a mono-economy built around oil.
He stated this while speaking to newsmen in Abia State on Thursday, March 31, 2016.
He urged the Federal Government to explore other sectors of the economy like mining, agriculture, entrepreneurship ventures and foreign direct investment to boost the Nigeria's revenue base.
“So, what has happened here is that with the massive failure, what we call oil glut in the market, the oil price has reduced below what we expected in the last 20 years. That automatically has affected our economy," Akpabio said.
“It has nothing to do with which administration is in power. It has something to do with resources to be able to deliver the dividend of democracy.
“The country belongs to all of us and if the country collapses on our heads, it means that we bequeath nothing to our children."
The Senator however urged Nigerians to be patient and be supportive of the Buhari administration.