FG Wants To Replace Oil As No. 1 Forex Earner By Increasing Non-Oil Export To $25bn

Plans by the President Muhammadu Buhari administration to diversify the revenue base of the economy is on course as the Nigeria Export Promotion Council (NEPC), has said that non-oil revenue was expected to increase from $2.7 billion to $25 billion by 2025.

This was disclosed by the Executive Director of the NEPC, Mr Olusegun Awolowo, at a one-day workshop in Benin City, Edo state.

The NEPC had also developed a ‘zero oil’ plan that will increase by 5%, Nigeria’s total value of world export in the strategic sector in 10 years time.

“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.”

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He added 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.