- The Federal Government has identified 13 products to serve as alternative sources of its revenue generation, the Managing Director of Nigeria’s Export and Import (NEXIM) Bank, Mr. Roberts Orya, has disclosed.
- He stated this in Makurdi while fielding questions from journalists at the end of a 3-day awareness workshop for North Central States on the prospects of diversification to non-oil sector economy.
- Mr. Orya said that it had become imperative for Nigeria to source for alternative ways of revenue generation following a progressive fall in the prices of petroleum products at the international omarket.
“As the largest economy in Africa and one of the fastest growing economies in the world, Nigeria can no longer afford to rely so heavily on crude oil, as the mainstay of her economy”, Orya said. ‘’Under this arrangement, every state will have a particular product to focus on, but cumulatively, the government has identified 13 products and we are hoping that in the next two or three years, that will be the focus of the government’’.
- According to the NEXIM Bank boss, part of the initiative is to ensure that government comes up with a policy of one state – one product, a system where every state will be involved in deepening the non-oil sector.