NEPC plans to launch zero-oil economic policy

Executive Director, Nigerian Export Promotion Council, Olusegun Awolowo

 Olusegun Awolowo
Executive Director, NEPC, Olusegun Awolowo

As part of efforts to salvage the nation’s economy, Executive Director of Nigerian Export Promotion Council (NEPC), Segun Awolowo has disclosed that a national action plan, targeting 11 strategic export products would be launched soon.

He said this in Abuja, when the Executive Secretary of Nigerian Shippers Council, Hassan Bello paid him courtesy visit.Awolowo said the scheme, known as zero-oil plan, would target 21 priority countries where the demands for such products are already waiting.

He added that among the key ministries that would help in driving the project are, the Nigerian Shippers Council, Ministry of Finance, the Nigerian Customs and Nigerian Ports Authority (NPA).

The NEPC boss explained that the council, which has begun wide consultations to identify stakeholders for the partnership, is to work closely with the Nigerian Shippers Council to drive the objective of the scheme.

“The products include petrochemicals, palm oil, cocoa, soybeans, rubber etc. To achieve this, Nigeria must scale up domestic production to unprecedented level and create competitive channels to transport cargo and other goods into foreign markets,” he said.

He said the plan is to ensure a marked increase in the total non-oil export volumes in Nigeria, which is expected to grow by 70 million tons.According to him, the feat would be propelled by the upgrade of major transport corridors to get goods from Nigeria’s hinterlands to where they are needed.

The plan, he further disclosed is to facilitate export intermediaries to source products from millions of micro, small and medium sized enterprises, thereby providing employment for millions of youth across the country.

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