Business 13 Nigerian Exports to Replace Crude Oil

[LequteMan]

Nigeria is going to replace crude oil, it's major export product for decades, with 13 new products, according to Minister of Industry, Trade and Investment, Olusegun Aganga. PUNCH reports.

“As part of the industrial revolution plan, we have also identified 13 products that will replace oil. These are areas where Nigeria has comparative advantage and export capacity. Mexico did it in seven years. We can also start and diversify our economy and revenue sources.” he said.

The minister said this was part of the spirited moves by the government to revive the national economy.

While unveiling plans by the Federal Government to diversify the economy, Aganga listed the 13 national strategic export products in three categories thus:

Agro-industrial (palm oil, cocoa, cashew, sugar and rice);

Mining-related (cement, iron ore/metals, auto parts/cars, aluminium, and oil and gas);

Industrial products (petroleum products, fertilizer/Urea, petrochemical and methanol)

#Nigeria #CrudeOil

 

[Temitope]

That will be ok. But I Still think we have more.

 

[LequteMan]

That will be ok. But I Still think we have more.

We could start with what's doing best at the moment and then move on from there. I personally think the agric sector will do Nigeria a whole lot of good if developed, both externally n internally.

 

[e-sugar]

Anything to increase exports should be done. Buh FG should also ensure made-in-Nigeria products are up to standard.