SAN FRANCISCO, June 09, (THEWILL) – The Nigeria Export Promotion Council (NEPC) has the presented the national ‘Zero Oil’ plan to senior leadership of the Dangote Group, in line with the current administration’s agenda of restructuring the economy to no longer depend on crude oil exports.
The Dangote Group is Nigeria’s largest conglomerate, and also one of the nation’s highest earners of non-oil foreign exchange.
Segun Awolowo, CEO, NEPC, while presenting the plan to the Dangote Group, emphasised the use of exports as a core driver of job creation, increased investments, growth in government income, and better macro stability.
“Nigeria’s interventions to boost the supply of foreign exchange (i.e. through exports) will augment other actions that reduce foreign exchange demand,” Awolowo said.
“The economic miracle seen in East Asian countries, in a single generation, was anchored primarily on the growth and diversification of exports in those markets. The Nigerian government plans to achieve the same in a shorter period.”
He added that the Zero Oil plan has set a long-term goal of earning 20 percent of Nigeria’s GDP (i.e. $100bn) from non-oil exports.
Story by David Oputah
