Nigerian Export Promotion Council (NEPC) Executive Director Urges FG to Implement Zero Oil Plan

The Executive Director of Nigerian Export Promotion Council (NEPC), Mr. Segun Awolowo has said that 20 million Nigerians will be lifted out of poverty if the country implements the zero oil plan.

Awolowo said that the zero oil plan is a long term goal of earning 20 percent Nigeria GDP ($100b) from non oil export, adding that the initial target is to exceed $30billion over the next 10 years.

The Executive Director who stated this Monday when he paid a courtesy visit to Governor Babagana Zulum at the Government House Maiduguri further told the governor that "the vision of NEPC is to make the world a market place for Nigerian non-oil goods and services."

"While its mission is to spearhead the diversification of the Nigerian economy by expanding and increasing non-oil exports for sustainable and inclusive economic growth", Awolowo said.

He lamented on the country’s over dependence on crude oil which is Nigeria’s major source of revenue.

Awolowo said the zero-oil plan will lead to the achievement of three results, if well implemented.

“The zero oil plan will add an extra $150bn ( minimum) to Nigeria’s foreign reserves accumulating from non- oil exports over the next 10 years,.

“The zero oil will create at least 500,000 additional jobs annually due to an increase in productive and export activities helping to contribute to Sustainable Development Goal( SDG) to decent work and economic growth.

“The zero oil plan will lift at least at least 20 million Nigerians out of poverty.”, Awolowo said.

Awolowo had earlier said Nigeria could earn $30 billion and create 500,000 export-oriented jobs through 22 products from the non-oil sector.

He said the country could generate huge revenue from cocoa, cotton, cement, leather, cashew, sesame, shea butter, palm oil, fertiliser, petrochemicals and rubber.

In his remarks, Governor Zulum commended the NEPC Executive Director, describing him as “a reputable investment guru”.

However, he said the state’s economy needs to be revamped following Boko Haram attacks which have affected it's economic activities.