NEPC ‘ll exceed $30b revenue on non-oil exports by 2025 – Awolowo

With the implementation of One-State-One-Product (OSOP) by the Federal Government, the Nigerian Export Promotion Council (NEPC) said it will exceed $30 billion revenue generation through non-oil exports by year 2025.

The Executive Director of NEPC, Mr Olusegun Awolowo, made the disclosure during a one-day workshop on the Implementation of One-State-One-product (OSOP) Value-Chain Export Development through the National Committee on Export Promotion, on Wednesday in Uyo.

Awolowo, represented by the Deputy Director of NEPC, Mrs Pauline Ndulaka, said the country has over the last five decades ran a mono-product economy totally dependent on income generated only from crude oil exports thereby, making the economy volatile.

He expressed optimism that with the proper implementation of OSOP, the nation’s foreign reserves will rise to 150 billion dollars from non-oil exports in the next 10 years, create at least 500, 000 additional jobs annually and lift at least 20 million Nigerians out of poverty.

According to the Executive Director, the One-State-One-product scheme which is currently practiced in China, Malaysia, Kenya among other nations “was developed to ensure that each state of the federation including the Federal Capital Territory (FCT) focuses on at least one product to develop and massively boost export.”

He appealed to the state governments to collaborate with NEPC to look into a product of comparative advantage in their domains and develop it for export.

In her welcome address, the deputy director, Mrs Pauline Ndulaka, commended the participants for finding the workshop necessary and important to be part of and acquire the knowledge needed to flourish in export business world.

Ndulaka, represented by the Head, Trade Information Services of NEPC, Uyo office, Mrs Christiana Ekong, said, “the choice of hosting this workshop in Akwa Ibom State is born out of the fact that the state is endowed with lots of exportable products such as fresh coconut oil, cassava, seafood, palm fruits, iron ores, amongst others.”

She said the OSOP scheme was the veritable tool in achieving “Zero-Oil Plan Initiative of NEPC which was implementated since 2017 to take into cognizance existing products where states have comparative advantage in terms of production and commercialization.”

Ndulaka, who particularly commended the state governor, Mr Udom Emmanuel, on his efforts in the development of non-oil exports value chain, appealed to him for continuous collaboration for more economic benefits in the state and the country at large.

In his remarks, the state Commissioner of Trade and Investment, Mr Ukpong Akpabio, commended the efforts of NEPC towards Zero-Oil Plan, adding that with such move, the country will strengthen its economy.

Akpabio, represented by a director, Mr Aniefiok Idiong, who declared the event open, stressed that the state was working in line with the same vision of diversifying the economy due its abundant natural resources.

Blueprint reports that the workshop was organised by Abuja NEPC.