PDF Bridge unveils post COVID-19 diversification, export opportunities for Nigerian states

*The PDF Bridge report identifies and seeks to address the current, potential opportunities for selected exportable commodities in the international markets, at regional, continental and global levels

Web Editor | ConsumerConnect

Stakeholders in the Nigerian non-oil exporters sector will converge Thursday, February 18, 2021, for a roundtable to disseminate the results of the study commissioned by PDF Bridge, titled: “Diversification and Non-oil Export Opportunities for Nigeria States Post-COVID19”.

The organisation in a statement made available to ConsumerConnect Tuesday noted  the study identifies and seeks to address the current and potential opportunities for selected exportable commodities in the international markets, at the regional, continental and global levels.

This roundtable will bring together Trade related Government Ministries, Departments and Agencies (MDAs), and other relevant stakeholders who will use the evidence provided from the study to establish an environment that enhances competitive non-oil production and export.

It is also expected to provide information to private sector investors on available opportunities in the sector and how to exploit such benefits.

Dr. Titilola Akindeinde, PDF Bridge Programme Manager, in the statement said: “Economic diversification is no longer an ideal aspirational state for the Nigeria economy, but rather an imperative for sustainable economic growth.”

According to Dr. Akindeinde, to drive economic diversification, the transition from oil to a more diversified export basket would require concerted efforts at identifying and catalysing the key value drivers of the economy with the potential to propel market actors (both public and private) to pivot away from oil and into non-oil export.

The statement explained PDF Bridge commissioned the study to provide a comprehensive analysis on the export potentials of the Nigerian states and regions.

The study addressed the current and potential opportunities for selected exportable commodities in the international markets in order to reposition the Nigeria economy in the Post COVID-19 era.

The study is part of the programme’s contributions to supporting the Nigerian Government in its effort at diversifying the economy away from oil.

Akindeinde stated: “This roundtable will critically dissect the issues highlighted in the study with a view to generating recommendations on necessary actionable steps to be taken by Government at all levels, private sector and other stakeholders towards achieving a more diversified economy.

“We are looking forward to having robust discussions with the invited participants drawn from both the private and public sectors.”

The organisation further explained the non-oil sector holds the key to the future of the Nigeria economy.

The government seems to have recognised this long ago, evidenced by the series of attempts to diversify the Nigeria economy away from oil dominance for more than four decades, said PDF Bridge.

The statement as well noted that from creation of the Nigerian Export Promotion Council (NEPC) by the military regime of Gen. Olusegun Obasanjo (Rtd.) in 1976 to the current administration’s “Zero Oil” agenda in the Economic Recovery and Growth Plan (ERGP), weaning Nigeria off oil dependence has continually resonated as an economic sustainability priority.

However, the performance of non-oil sector remains limited, and does not reflect the huge investments committed to the diversification agenda overtime, it said.

Dr. Olumuyiwa Alaba, Trade Policy Lead, PDF Bridge, also said in the statement that “the time is running out!

“It is time to move non-oil export beyond ambition and talks, as the events of the last few years have shown us that its either we diversify now or we ‘get exhausted with oil, an exhaustible resource’.

“We have encompassed ‘oil mountain long enough, let’s go non-oil’.”

The PDF Bridge Trade Policy Lead added it is within that context that the NEPC launched a “one-state-one-product” (OSOP) scheme aimed at supporting the 36 states and Abuja, Federal Capital Territory (FCT), for each to identify at least a priority non-oil product for the purpose of value chain export development.

Titilope Ojo, Exporter Voices Lead of PDF-Bridge, also remarked that “there is no better time to have this conversation.

Ojo stated that running a mono-economy with huge dependence on oil is not sustainable and diversification of Nigeria’s economy is a matter of priority to survive global economic uncertainties.

Improving the economy of Nigerian States is, indeed, a must to achieve national prosperity, said she.

According Ojo, the PDF Bridge roundtable for all stakeholders to discuss findings and recommendations on “Diversification and Non-oil Export Opportunities for Nigerian States Post-COVID19” is timely.

“I am hopeful that through this roundtable discussion, recommendations will be generated on necessary actionable steps to achieve a truly diversified economy,” Ojo said.

The PDF Bridge Programme is a 14-month programme that provides direct technical support to the Federal Government of Nigeria, its agencies and independent regulators in key economic sectors.

It enhances technical expertise within the public sector, contributing to inclusive growth and poverty reduction.

The programme identifies and works with champions of change, and supports them to conceptualise, design and drive important policy and regulatory reforms that strengthen public planning, budgeting and policies for the improved delivery of public goods and services to citizens.

The PDF Bridge Programme is part of the wider DFID-funded ‘Partnership to Engage, Reform and Learn (PERL)’ programme, a five-year public sector accountability programme which is due to end April 30, 2021.

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