Nigeria must immediately diversify economy from oil – NEPC
The Nigeria Export Promotion Council (NEPC) said the nation must diversify its economy away from oil which is the dominant revenue earner.
The council warned against continued reliance on crude oil and stressed that Nigeria’s survival lies with non-oil products.
NEPC Trade Promotion Advisor, Bello Noma, gave the advice during a sensitisation visit to the News Agency of Nigeria (NAN) in Jos on Monday.
Noma said the main export (oil) “would one day dry up leaving the country with non oil products”.
The official noted that about 200 countries already signed an agreement to stop the usage of fossil oil.
“This also include the crude oil we are bragging with, so by the time this is adopted, there will be no market for us,” he said.
Noma said the abundant non-oil resources in each State of the federation were not fully harnessed.
The advisor insisted there is huge money in the non-oil sector, and charged the authorities to utilise the potential for job and wealth creation, and foreign exchange.