FCMB Rallies Operators to Diversify, Stimulate Nigerian Economy Stakeholders in the nation’s financial service sector have stated that Nigeria’s vast non-oil endowment must be urgently leveraged to diversify an
Stakeholders in the nation’s financial service sector have stated that Nigeria’s vast non-oil endowment must be urgently leveraged to diversify and expand its revenue base, reduce the dependence on crude oil for foreign exchange earnings, and stimulate rapid economic growth.
According to the NEPC Boss, Nigeria’s abundant natural resources provide a good and solid base for rapid industrialisation if we make the necessary financial provisions.He disclosed that huge opportunities abound for Nigerian manufacturers that can get it right in Nigeria and other African markets. On his part, the Head of Strategic Planning at the Nigerian Export-Import Bank , Mr Tayo Omidiji, called for capital investment in the sector. He said enhanced credit flow to the non-oil export sector, primarily to support capital investments in productive assets, will lead to economic diversification. “Given Nigeria’s endowment in agriculture, solid minerals and services sector, Nigeria has vast potential to grow non-oil exports and diversify its export revenues.
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