By Simon Ebegbulem
BENIN—THE Nigeria Export Promotion Council, NEPC, has said that the nation’s dependence on oil will soon be a thing of the past as the non-oil export revenue of the nation was expected to increase from $2.7 billion to $25 billion in 2025.
Executive Director of NEPC, Mr Olusegun Awolowo, who disclosed this at a one-day workshop in Benin City, Edo State, said that the increase will help revive the nation’s dwindling economy very soon.
Awolowo, who was represented by Ezra Yakusak, lamented that the fall in the price of oil in the international market had rendered the nation’s foreign exchange almost useless, adding that with the on- going investment in the non-oil sector by the President Muhammadu Buhari administration, the current economic hardship will soon be a thing of the past.
He noted that the council had developed a ‘zero oil’ plan that will increase by five percent, Nigeria’s total value of world export in the strategic sector in 10 years time, saying, “The zero plan is a coherent agenda to mobilize the public and private resources towards replacing oil as our number one resource of foreign exchange.”