It is no longer news that Nigeria’s economy has relied heavily on crude oil revenues for decades, making it susceptible to global price fluctuations. It has also become crystal clear that Nigeria can no longer continue to depend on this commodity as major foreign exchange earner. To achieve sustainable economic growth and prosperity, Nigeria must urgently transition to a non-oil export-driven economy. This transition requires immediate action in the form of policy reforms, strategic initiatives, and targeted investments across different sectors.
In my last article, I had illustrated the high potential for Nigeria to trade its way to economic recovery, prosperity and growth. In this writeup, we shall highlight some key policy imperatives to achieve this goal:
1. Policy Coherence and Alignment
Developing a National Export Plan is a pivotal step in guiding Nigeria’s transition to a sustainable, non-oil export-driven economy. This plan, must be a clear and comprehensive…
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