The Nigeria Export Promotion Council, NEPC has proposed, that the country’s foreign reserve will increase to 150 Billion Dollars in the next 10years through non oil exports.
It added that the proper implementation of the One-State-One-Product directive of the Federal Government would help to actualize the projection.
The Executive Director of NEPC, Olusegun Awolowo who disclosed this on Wednesday during a workshop on the Implementation of OSOP value chain Export held in Uyo, Akwa Ibom State capital said the policy was aimed at ensuring each state of the federation including the Federal Capital Territory (FCT) focuses on at least one product to develop for export.
Awolowo, represented by the Deputy Director of NEPC, Mrs Pauline Ndulaka, added that such would create at least 500,000 additional jobs annually and lift at least 20Million Nigerians out of poverty.
The Executive Director who noted that the scheme is practised in China, Malaysia, Kenya among other nations urged state governments to collaborate with NEPC to look into a product of comparative advantage in their domains and develop it for export.
In her remarks, the Head, Trade Information Services of NEPC, Uyo office, Mrs Christiana Ekong, said Akwa Ibom State was chosen to host the workshop due to abundance of exportable products such as fresh coconut oil, cassava, seafood, palm fruits, iron ores, amongst others.
Mrs Ekong who represented the Deputy Director of NEPC, Uyo office, Pauline Ndulaka said, “OSOP scheme was the veritable tool in achieving Zero-Oil Plan Initiative of NEPC which was implemented since 2017 to take into cognizance existing products where states have comparative advantage in terms of production and commercialization.
ALSO READ Akwa Ibom Varsity Suspends Strike
“We commend the state governor, Mr Udom Emmanuel on his efforts in the development of non-oil exports value chain, and we appeal for continuous collaboration for more economic benefits in the state and the country at large.”
In his opening address, the state Commissioner of Trade and Investment, Mr Ukpong Akpabio lauded NEPC on its Zero-Oil plan, adding that such move would strengthen the country’s economy.
Akpabio, represented by his Director, Mr Aniefiok Idiong, stressed that the state was working in line with the same vision of diversifying the economy due to its abundant natural resources.