The Minister of Industry, Trade and Investment, Otunba Richard Adeniyi Adebayo has said that the Federal Government is envisaging a non-oil export-oriented economy in a few years.
The Minister disclosed this while making a presentation at the Nigeria Investment Showcase, Guildhall, London, on Thursday.
A statement signed Mr Julius Toba-Jegede, the Minister’s Special Assistant on Media, quoted him as saying that “Our new National Ethos envisages a Nigeria that is export-oriented, high producing, high growth and offers productive infrastructure for businesses large and small.
” It is ambitious and sets out to achieve transformational economic growth, by leveraging our demographic dividends and comparative advantage in mineral deposits and agriculture, to provide an opportunity for long-term oriented investors”.
Adebayo said that in a bid to achieve the above, government had started implementing new initiatives.
He said the initiatives included: wholesale reforms, tailored investor incentives, bilateral agreements and “a pipeline of continuous opportunities”.
” These pipelines of investment opportunities include, but are not limited to the development of six special zones, the establishment of several agro-processing zones and the development of a national trading platform.
“Our focus in the next decade is to build capacity for production and further support our service economy.
” This requires prioritising local manufacturing and deploying large-scale capital in high-impact infrastructure projects, export-focused production, supply chain and logistics, market access and R&D,” he said.
The event organized by the UK Department for International Trade (UK DIT) in partnership with the City of London was aimed at showcasing some of Nigeria’s most promising projects.
