Council to Boost Foreign Exchange Through Non-Oil Export Policies
The Nigerian Export Promotion Council (NEPC)said it has mapped out strategies to boost foreign exchange through non-oil export policies for 22 major products that would generate up to $30 billion within five years.
The Executive Director/CEO of NEPC, Dr. Ezra Yakusak, disclosed this during a five-day export promotion capacity-building programme to promote non-oil exports in Nigeria.
Yakusak explained that recent developments in the global economy have justified why Nigeria must be dedicated to the exportation of its vast non-oil resources.
Represented by the Director, International Export Office, NEPC, Mr. Babatunde Falake, the CEO stressed that recent developments in Nigeria’s economy have made it clear that more emphasis should be placed on export, if the country must survive.
He said, “It is unfortunate that Nigeria, having been blessed with resources in agriculture, solid minerals, entertainment industry, creative arts, information and communication technology, fashion and manufacturing, yet it has continued to rely on the export of crude oil as the major source of foreign exchange.”
According to him, the council has developed its zero oil plan in response to the recession of 2016 occasioned by the crash in crude oil prices.
Speaking on the non-oil export policies for 22 major products, Yakusak informed that the 22 products included cotton, petrochemicals, fertilisers, palm oil, rubber, cement, tomatoes, banana, oranges, cashew, cassava, sesame, spices, ginger, shea butter and cowpea.
His words: “The Council recently launched the ‘Export 4 Survival’ campaign which is aimed at sensitising Nigerians from all walks of life to embrace non-oil export as a viable option for our economic growth and survival. The campaign is already making an impact as the council with its activities is now in the limelight nationwide. A look at the various topics for discussion clearly demonstrates our readiness to equip participants with the required knowledge and skills for successful export business and specially to curtail the rejection of non-oil exports from Nigeria,’’ NEPC boss added.
Agro Nigeria
