Vice President Kashim Shettima, yesterday said the country must take urgent steps to drastically reduce its over-dependence on oil and focus more on harnessing the untapped potential in the non-oil export sector.
Also, yesterday, Shettima has charged the North East Development Commission (NEDC) to prioritise investments in legacy projects, including agriculture, education and smart transportation also referred to as electric transport vehicles and tricycles.
Speaking while declaring open the second National Conference on Non-Oil Export with the theme: "Building a Sustainable National Economy through Non-oil Export," organised by the Nigeria Export Promotion Council (NEPC), he said the country's future depended on the ability to urgently free itself from the, "shackles of overdependence on oil in a world that is rapidly moving away from fossil fuel."
The vice president said the first task before the present administration was to prioritise capacity building and skills development for the non-oil export sector.
He added that the government was prepared to invest in human capital, research and development, and technology transfer to enhance productivity and innovation by equipping entrepreneurs and workers with the necessary skills and knowledge required to drive growth in the non-oil sector.
This came just as the Executive Director, NEPC, Dr. Ezra Yakusak, called on the federal government to declare the ginger fungi infestation currently ravaging farmlands a crop pandemic and, "fight it with the same viciousness our nation fought the COVID-19 pandemic to a standstill."
He said with the outbreak of the disease, Nigeria's non-oil export performance may experience a steep decline, except the issue is adequately addressed.
The NEPC boss said, "This is not the time for us to accommodate any minute disruption in our foreign exchange inflow. "With the current state of the naira, every single source of foreign exchange must be carefully and jealously protected."
Shettima was, however, represented by the Special Adviser to the President on Ease of Doing Business, Dr. Jumoke Oduwole.
While commending the NEPC for the laudable initiative aimed at diversifying the economy through non-oil receipts, he said, "We must continue to diversify our export market beyond our traditional partners.
"While these time-tested partners remain important, we must also rapidly grow opportunities in the emerging economies across Africa, Asia, the Middle-East and Latin America."
He said, "We must forge strategic partnerships, improve market intelligence, and leverage existing trade agreements to expand our market reach and reduce our dependency on a few established markets.
"Today, Nigeria is one of the largest domestic markets in Africa yet with a very low level of formal intra-African trade. We need to work diligently to access the opportunities offered by AfCFTA."
The VP said with Nigeria's leadership role, access to the single largest market in the world, and increased investment opportunity, Nigerian businesses have unprecedented opportunities to scale and diversify exports and deepen existing regional value chains, as well as grow new ones to earn the much-needed foreign exchange.
He said the Tinubu-led administration had already commenced the task of prioritising the policy coordination and regulatory environment required for businesses to thrive and scale across Africa.
He added, "We are convinced that delivering a sustainable national economy through non-oil exports is the inevitable route to escape from an economic quagmire created by our being oil hostage to oil revenues and the dependency syndrome.
"Now is the time for us as a country to fully embrace non-oil export as an intelligent strategy for accelerating economic growth and augmenting our foreign exchange reserves.
"Now is the time to collaborate and unlock the untapped potential within the non-oil sector and a time to collectively forge a robust adaptable and diversified economy that would benefit generations of Nigerians yet to come."
Also, speaking at the conference, the Minister, Industry, Trade and Investment, Dr. Doris Uzoka-Anite, said Nigeria has operated a mono-economy for too long while focusing on oil and gas to the detriment of other exportable commodities.
She said the country's diversification efforts are however beginning to yield success.
According to her, Nigerian non-oil exports grew by almost 40 per cent in 2022, reaching $4.82 billion as semi-processed and manufactured products accounted for almost 37 per cent of these exports, surpassing agriculture's 30 per cent.
She said, "This is a big step in the right direction. We no longer have the luxury of business as usual when it comes to the business of making sure Nigeria succeeds. We can no longer afford to export raw materials cheaply and import finished products at premium prices.
"That train has stopped and will not be starting again. Our focus for exports is locally manufactured value-added products, that create both business and employment."
The minister pointed out that the Nigerian economy was going through tough times at the moment amid the rising cost of fuel and everyday items.
She, however, expressed confidence that, "significantly increasing non-oil exports will help us come out on the other side, of this tough time, victorious."
She added, "We must do all we can to encourage more business owners to explore exports, even if it is in a small way. E-commerce platforms, shopping apps, and other tech solutions have revolutionised the way we trade and made it easier for even micro-enterprises to consider cross-border trade.
Nonetheless, Yakusak said, "I will not do justice to this address if I do not present the challenges being faced by farmers and exporters of ginger in Nigeria.
"It is a known fact that Nigeria's ginger has been adjudged as the best in the world due to its unique aroma, pungency, and high oleorosin content. This makes Nigeria one of the largest exporters of ginger in the world."
He pointed out that the council received several complaints of the outbreak of a strange disease ravaging ginger farms in Kaduna State, adding that so far, about 2,503.9 hectares of farmland had been affected with an estimated loss of over N8 billion.
He added that apart from the huge financial and economic loss, the disease is affecting the income and livelihood of ginger farmers who are mostly MSMEs.
Among other things, the NEPC boss said the non-oil sector could salvage the economy and make it stronger if accorded the needed support.
Shettima to NEDC: Prioritise Agriculture, Education, Smart Transportation as Legacy Projects
Meanwhile, Shettima has charged the NEDC to prioritise investments in legacy projects, including agriculture, education and smart transportation also referred to as electric transport vehicles and tricycles.
The vice president gave the advice yesterday, when the board and management of NEDC presented the North-East Stabilisation and Development Master Plan (NESDMP) to him at the State House, Abuja.
Speaking on the NEDC's plan for the region, Shettima urged the commission to be prudent with its resources and invest in projects that will have a lasting impact on the region.
"I will ask the board and management of NEDC to embark on legacy projects; projects that will stand the test of time.
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"It is absolutely essential that you invest in agriculture, invest in new transport technology- electric tricycles and vehicles. If you invest in smart transportation it will have a sea change and you can even attract climate funding," he added.
The vice president noted that Tinubu would leave no stone unturned in ensuring that total security was returned to the north east region, even as he also pledged unalloyed support for NEDC to actualise all of its objectives but urged its board and management to "unite as a team and do what is right for the people."
Shettima acknowledged numerous challenges confronting the people of the region, noting that they could be surmounted if the people and leaders work together.
He, however, expressed optimism that the region could overcome its challenges if there is a will, adding that while the government cannot manage poverty, it has to fight it.
Accordingly, the vice president also tasked the NEDC to embark on projects that would further engage the youths and create jobs.
He noted that although sharing of palliatives was good, the NEDC must invest in education, agriculture and electric vehicles which, according to him, are key areas for development.
Earlier in his remarks, Chairman of the NEDC board, Major General Paul Tarfa (rtd) said the purpose of the visit and presentation of the master plan was to highlight the importance of the document and to ensure that it is implemented.
Also speaking, NEDC Managing Director, Mr. Mohammed Alkali, said the master plan was in fulfilment of section 8 (1) (c) of the NEDC Act which stipulates that the commission shall develop a master plan based on the needs assessment of the zone.
He noted that the 10-year development plan (2020 to 2030) has four implementation phases, 11 pillars and 529 schemes, programmes and projects.
