Nigeria, Oct. 7 -- President Bola Tinubu says Nigeria has significantly reduced its reliance on oil revenue as his administration pushes to diversify the economy and attract more investment into other sectors.

He said the government would continue to develop the petroleum industry but use its resources to support broader economic activity rather than depend on crude oil as the main driver of growth.

The President, represented by Vice President Kashim Shettima, spoke on Tuesday in Abuja at the fifth anniversary of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

"We have already reduced our dependence on oil revenue, and we intend to go further," President Tinubu said.

He said the government's diversification strategy was...