Current Date: 20 Apr, 2024

Nigeria Breaking News Today: The Nigerian government hopes to earn $30 billion yearly from non-oil exports

The Nigeria Export Promotion Council, aims to earn at least $30 billion in revenue yearly from non-oil exports.

Nigeria Breaking News Today: The Nigerian government hopes to earn $30 billion yearly from non-oil exports

NEPC Trade Promotion Advisor Bello Noma stated as much while leading his colleagues on a sensitization visit to the Jos News Agency of Nigeria.

Mr. Noma said that every state of the federation contains a wealth of non-oil resources just waiting to be developed.

According to the trade promotion advisor, the NEPC, led by Dr. Ezra Yakusak, had created a policy plan to support the non-oil sector. He continued by saying that the project's goal was to ensure that the nation would have shock absorbers if the price of crude oil crashed.

"We have a plan known as the zero oil plan. We have identified 11 strategic products, known as 11 products, that will provide Nigeria with enough foreign currency.

"The 11 products fall into two categories: category A and category B. When we scale up production, these products will be able to provide Nigeria with 30 billion dollars annually, he claimed.

According to NEPC's one state, one product policy, each member state of the federation "has a unique product to focus on," he said. The trade promotion advisor, if production was scaled up, the country could earn $1 billion in each federation state.

"When you examine the non-oil export statistics for the past four years, you can see that the data keeps increasing. According to our records, the total value of non-oil exports was $3.4 billion last year.

But as you can see, we have already recorded more than 3.5 billion dollars from January to September thanks to the effort made by our chief executive.

The fact that there are still three months left to go shows that the council's efforts are indeed starting to pay off, he continued.

Excellence Chukwuma Chukwunaedu

Excellence Chukwuma Chukwunaedu

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