Nigeria Will Soon Achieve Non-Oil Export-Oriented Economy, Says Minister

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Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo says the country will soon achieve a non-oil export-oriented economy.

Adebayo said this in statement by his Special Assistant on Media, Mr Julius Toba-Jegede made available to newsmen in Abuja on Thursday.

The minister spoke during a presentation at the “Nigeria Investment Showcase’’ held at Guildhall, London.

He said that Nigeria was set to achieve economic growth by leveraging on potential in mineral deposits and agriculture.

“Our new national ethos envisages a Nigeria that is export-oriented, high producing, high growth and offers productive infrastructure for large and small businesses.

“Nigeria is ambitious to achieve economic growth and transformation by leveraging on demographic dividends and comparative advantage in mineral deposits and agriculture,’’ he said.

The minister said that the Federal Government had begun implementing new initiatives to achieve the goal of providing opportunities for long-term oriented investors.

“The initiatives include wholesale reforms, tailored investor incentives, bilateral agreements and a pipeline of continuous opportunities.

“These pipelines of investment opportunities include, development of six special zones, establishment of agro-processing zones and development of a national trading platform,’’ Adebayo said.

He said that the government’s focus was to build capacity for production and support for the service economy.

“This requires prioritising local manufacturing and deploying large-scale capital in high-impact infrastructure projects.

“Others are export-focused production, supply chain and logistics as well as market access,’’ he said.

The Nigeria Investment Showcase was organised by the UK Department for International Trade in partnership with the City of London.

The event was aimed at showcasing some Nigeria’s most promising projects. (NAN)

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