NEPC Canvasses Non-oil Sector Growth Enhancing Policies

NEPC
NEPC

The Acting Executive Director, Nigerian Export Promotion Council (NEPC), Abdullahi Sidi-Aliyu has advocated the implementation of policies that will enhance the growth of non-oil sector in the country.

called for the development and implementation of deliberate policies to enhance the producti

Sidi-Aliyu gave the suggestion at a Stakeholders Forum on the validation of the guidelines on the new basket of incentives schemes (NBIS) held in Kano recently

He insisted that, the nation’s over-dependence on the oil sector for revenue and failure to diversify its economy has made the economy vulnerable to declining international oil prices.

“The neglect and non-development of the critical sectors, especially the non-oil export sector, has turned the oil resources to a “‘source of the curse’,” he said.

The NEPC boss called for sustained effort to substantially improve power as well as the provision of other infrastructure including the building of industrial estates and other necessary incentives that would encourage prospective investors and enhance their competitiveness.

He said since its establishment, NEPC since establishment, he said  has sought to make non-oil export a significant contributor to Nigeria’s GDP by facilitating exports to promote sustainable economic growth and development through its various programmes and activities.

While maintaining that the Forum would offer stakeholders opportunity to review the draft guidelines on the new basket of incentives which is aimed at improving the performance of the non-oil sector of the Nigerian economy, Sidi Aliyu said the move is in line with the overall economic agenda of the Federal Government to grow revenue from non-oil.

He noted that the Council took the initiative to provide incentives to companies engaged in non-oil export business in order to stimulate interest and improve Nigeria’s non-oil export performance.