Nigeria to exit dependence on oil revenue in 10 years – Awolowo

The Executive Director/Chief Executive Officer of the Nigerian Export Promotion Council (NEPC), Segun Awolowo, has expressed optimism that Nigeria will exit its dependence on crude oil revenue in 10 years.

Awolowo spoke on Friday while briefing State House reporters after a meeting with President Muhammadu Buhari.

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The NEPC boss, who said the feat was possible going by the steps being taken to improve the non-oil exports, voiced strong belief that Nigeria could get $30billion in terms of non-oil export, notwithstanding the effect of the current COVID-19 pandemic in the next decade.

“We cannot run an economy where 90 per cent of our earnings are from crude oil. It is just not working, and that is what we are seeing throughout the years when we went into the first recession when the world oil prices stood worldwide,” he said.