NEPC Plans to Grow Non-Oil Revenues To $30 Billion in 5 Years

The effort by the present administration to increase revenues from other sources other than oil is on course, as the Nigerian Export Promotion Council (NEPC), plans to increase non-oil export earnings to $30 billion in five years.

This was disclosed by the Executive Director/Chief Executive Officer of the NEPC, Mr. Segun Awolowo, in a visit to the Minister of Agriculture and Rural Development, Mr. Audu Ogbeh, in Abuja.

“The plan is to build a non-oil economy through 11 strategic productssectors, and 21 countries for Nigerian goods and to grow non-oil foreign exchange from $2.7bn today, to $30bn in five years”

The Minister, according to a statement from the NEPC, announced plans to organise a National Agricultural Summit aimed at engaging the youth and also expressed confidence that the challenges surrounding total diversification from oil to non-oil were not insurmountable.

The Executive Director, informed the Minister that as part of its strategies to reposition the non-oil export sector, the NEPC had adopted several programmes, including the One-State-One-Product Programme which allows each state to develop a product where it has competitive edge and which can do well in the international market, the National Strategic Export Products consisting of 13 products in three categories.

Awolowo added that the three product categories include agro-industrial (palm oil, cocoa, cashew, sugar and rice), mining-related products (cement, iron ore/metals, auto parts/cars, aluminum), oil and gas industrial products (petroleum products, fertilizer/urea, petrochemical and methanol).

He said there was also the Nigerian Diaspora Export Programme, consisting of three major components; Cuisine beyond borders, establishment of Nigerian Heritage Houses, and encouraging Nigerians in the Diaspora to invest in the non-oil export sector.

Punch originally reported this story

The post above and its ensuing comments, if any, is purely the opinion of the writer(s). It therefore should never be considered as an investment advise of any sort. If required, readers should please consult a competent professional financial adviser for any investment decision.


January 2016
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031
Buying and Selling FX is is easy and Safe on Nairalaw.com Agree What Nigerian Bank you ant To meet Verify and Pay the FX into your Account and Pay The Seller Easy Safe ALL Within The Banking Premises ! You can even walk into Select Banks and Ask To Speak To The Manager Code Word Nairalaw ! If anything goes wrong and you need legal representation . We are Here To Help ! YO CAN DO ONLINE FX DEALS VIA OUR DEAL ARBITER APP FREE . THEY ARE AT YOUR OWN RISK EXCEPT YOU PAY A SMALL CHARGE UPFRONT
BUY 1 MILLION UK US EMAILS AND START RESELLING ON ADVERTIS.I.NG BUY 1 Million UK US EMAILS AND START RESELLING FOR DMCA PLEASE CONTACT US
  • Related Posts

    • Naira
    • February 13, 2025
    • 2 views
    Interbank Rates Diverge Amidst Huge Liquidity Deficit

    Interbank Rates Diverge Amidst Huge Liquidity Deficit The short term benchmark interest rates diverged on the back of relatively lower funding demand as banking system faced huge liquidity deficit. Liquidity…

    Read more

    • Naira
    • February 13, 2025
    • 2 views
    Naira Falls as Foreign Obligations Crack External Reserves

    Naira Falls as Foreign Obligations Crack External Reserves The naira depreciated against the US dollar in the foreign exchange amidst declining external reserves.  The Nigerian Foreign Exchange Market (NFEM) experienced…

    Read more