Nigeria diversifying from oil – Osinbajo

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Vice President, Yemi Osinbajo says Nigeria is now focusing on non-oil exports.

He said the zero-oil plan promoted by the Nigerian Export Promotion Council (NEPC), affirms the country as being on economic diversification path.

Osinbajo spoke on Thursday when he received NEPC delegation led by the outgoing Executive Director/CEO, Segun Awolowo.

The VP said the country is on the right path and hailed the attention to non-oil exports.

The Senior Advocate of Nigeria (SAN) told policymakers to ensure that in the next few years, the zero-oil plan is achieved.

Osinbajo hailed Awolowo for his foresight and putting in place a plan that is well-structured and detailed.

“We are certainly getting away from the oil and gas era. We used to think that it will take a while, but today, the circumstances have changed.”

Osinbajo added that public investments from the European Union (EU) and multilateral oil and gas companies are fizzling out.

The VP noted that the Export Expansion Facility Programme (EEFP) is a natural progression for the zero-oil plan.

He advised stakeholders to brace up for the challenges ahead and ensure that the right things are done.

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