Nigeria brags about oil, must diversify before it dries – NEPC

The Nigeria Export Promotion Council (NEPC) has urged the government to diversify the nation’s economy.

The council warned against continued reliance on crude oil, stressing that Nigeria’s survival lies with non-oil products.

NEPC Trade Promotion Advisor Bello Noma gave the advice during a sensitisation visit to the News Agency of Nigeria (NAN) in Jos on Monday.

Noma said the main export (oil) “would one day dry up leaving the country with non oil products”.

The official noted that about 200 countries already signed an agreement to stop the usage of fossil oil.

“This also include the crude oil we are bragging with, so by the time this is adopted, there will be no market for us,” he said.

Noma said the abundant non-oil resources in each State of the federation were not fully harnessed.

The advisor insisted there is huge money in the non-oil sector, and charged the authorities to utilise the potential for job and wealth creation, and foreign exchange.

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