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Awolowo’s NEPC A Worthy Partner To Grow Borno Economy – Gov. Zulum

The Executive Director and Chief Executive Officer of Nigerian Export Promotion Council Mr Segun Awolowo was in Maiduguri few days ago on sensitization visit and paid a courtesy visit to Governor Professor Babagana Zulum.
While congratulating Professor Zulum on his electoral victory and his being sworn in as Executive Governor of the state, he used the occasion to brief the governor of the importance of NEPC as the foremost apex institution for promoting the development and diversification of exports.
He told the governor that the vision of NEPC ” is to make the world a market place for Nigerian non- oil goods and services. “
More importantly Mr Awolowo said NEPC mission ” is to spearhead the diversification of the Nigerian economy by expanding and increasing  Non- oil exports for sustainable  and inclusive economic growth”
He said over five decades Nigeria had depended  solely on crude oil as export revenue earner accounting for over 80 percent of foreign exchange earning and more than 65 percent of Federal budget funding.
Mr Awolowo said the Zero oil plan had set a long – term goal of earning 20 percent Nigeria GDP ( i.e. $100b) from non oil export. The initial target is however to exceed  $30b in non export over the next 10 years.
He said If this was properly implemented,  the plan would lead to three primary results.
1. The zero oil plan will add an extra $150b ( minimum) to Nigeria’s foreign reserves accumulating from Non- oil exports over the next 10 years.
2. The zero oil will create at least 500,000 additional jobs annually due to an increase in productive and export activities helping to contribute to Sustainable Development Goal( SDG) to Decent Work and Economic Growth
3. The Zero oil plan will lift at least 20 oil plan will lift at least 20 million  Nigerians out of poverty.
In his response Governor Zulum said he was excited to receive NEPC Director General Segun Awolowo whom he noted to be  “a  reputable investment guru” and a grandson of one of Nigeria greatest political leaders  Chief Obafemi Awolowo.
He said he would appreciate a quick revamping of the economy of the state ” as you know, Borno is strategically located with the advantage of controlling  a regional commercial hub as it borders Republics of Chad. Niger, Cameroon and with linkages to the Central African Republic. ” he declared.
Unfortunately,  the governor pointed out that developments in the last decade had crippled the vibrant economy of the state as Insurgents had grounded agricultural activities and almost destroyed our Sahelian ecosystem.
The governor said he was excited by the visit of Mr Awolowo saying ” I have seen you as a worthy partner to revamp the state economy.”
The governor assured Mr Awolowo that his government ” will ensure conducive policy environment and other necessary support to all our farmers.  We will be proud to encourage production for export to boost the economy”.

About Editor

Otunba Sayo Akintola is a 1992 graduate of Linguistics from the University of Ibadan, Oyo State. He holds a post-graduate diploma in Financial Management and MBA from Abubakar Tafawa Balewa University, Bauchi. He started his 12-year sojourn in journalism at the Nigerian Tribune in 1993 as Business and Economy reporter. He rose through the ranks to become the Group Business Editor of the nation’s oldest surviving private national newspaper, the Nigerian Tribune. He set up World Street Journal magazine in 2018.

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