Only non-oil export’s forex will spur Nigeria's economic growth – NEPC

Nigerian Export Promotion Council (NEPC) has said only foreign exchange earnings generated from non-oil products will spur sustainable economic growth in the country.
 
Mr Segun Awolowo, NEPC’s Chief Executive Officer
Mr Segun Awolowo, NEPC’s Chief Executive Officer, who disclosed this at the EBS RED Quarterly Lecture in Abuja, said forex generated from remittance from Nigerian relatives abroad could not provide sustainable economic development for the country.

Represented at the lecture by a director at NEPC, Barrister George Enyiekpon, the NEPC boss said it was obvious that crude oil was no longer profitable as it was before, adding that the non-oil export should therefore be focused on by the country.

According to him, Nigeria’s exchange rate violability started way back in the 1960s; not just in 2015.

He urged the youths to focus on export as a business, as they would not only make ends meet but also help the country garner much foreign exchange.

But a senior lecturer in the Department of Political Science and International Relations, University of Abuja, Dr Mutiullah Olasupo attributed Nigeria’s economic growth problem and the country’s forex violability to corrupt leadership and lack of sound economic policies.

He said bad governance from corrupt leaders had wreaked huge havoc on the country’s economy, adding that it would only take sincere and corrupt-free leaders to savage the economy.


He cited Malaysia, Singapore and South Korea as countries that were below Nigeria in terms of economic development in 1960s and 1970s, but sincere leadership and good governance had catapulted them to be among the economic buoyant countries far above Nigeria.        

Comments

Post a Comment

Popular posts from this blog

Agric forum to encourage greater technology use by women

Image
Organizers of a one-day agricultural forum for women in Benin, the Edo State capital, have said the event will focus on increasing the awareness of available agricultural and outreach technologies for women in agriculture. The forum which will be anchored by Market Development Programme in the Niger Delta (MADE) with funding from UK Aid, is collaborating with Markets II, funded by USAID and Foundation for Partnership Initiatives in the Niger Delta, PIND and the Edo State Cooperative Farmers’ Agency is being held for womenas part of activities to mark this year’s International Women’s Day. Mr. Fidelis Ekom, MADE’s Communications and Advocacy Manager, in a statement at the weekend said the forum also seeks to facilitate mindset change for women in the adoption of modern technologies and to facilitate engagement between women in agriculture and relevant value chain actors. Ekom said the forum will bring together women farmers in aquaculture, cassava, palm oil, poultry, hon
Read more

7 FEPSAN members to produce 1m tonnes under Presidential Fertiliser Initiative

Image
Seven active blending companies within the Fertiliser Producers and Suppliers Association of Nigeria (FEPSAN) have been revived and are among the 1st of five batches that would produce 1 million tonnes of fertiliser under the Presidential Fertiliser Initiative, Thomas Etuh, President of FEPSAN has said. Etuh who disclosed this while speaking on Presidential Fertiliser Initiative noted that most of the plants owned by FEPSAN members are being revived after being dormant for over a decade. He expressed the hope that more plants would join the initiative before the end of April “Some of the blending plants which have already been supplied with raw materials including phosphate from Morocco and are blending include Fertiliser and Chemicals Ltd, Kaduna, producing 300,000 metric tonnes; Al-Yuma Fertilizer Company (300,000 metric tonnes) in Madobi-Kano; Kano Agricultural Supply Company, supplying 15 trailers daily and Golden Fertiliser based in Lagos. “Others blending plants ha
Read more

Over 100 exhibitors from 18 countries register for agrofood Nigeria 2017

Image
Fairtrade, the German trade fair specialist organisation, has said more than 100 exhibitors from 18 countries have confirmed their participation at the agrofood Nigeria, making it a record participation. The event which will take place from 28 to 30 March 2017 at the Landmark Centre in Lagos has attracted exhibitors from Austria, Benin, China, Denmark, Egypt, France, Germany, India, Italy, Kenya, Netherlands, Nigeria, Poland, South Africa, Taiwan, Togo, Turkey and the United Kingdom. agrofood Nigeria consists of the following exhibition topics: Agriculture, Process & Packaging, Food Ingredients, Food & Drinks and Foodservice Equipment. “For the third year, the French agrofood association adepta leads a delegation of French companies to agrofood Nigeria”, said Aude Roelly, Area Sales Manager for Sub-Saharan Africa, adepta. “From farm to fork, companies specialized into equipment and know-how for agriculture, livestock, food processing and packaging offer their
Read more