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Nigeria no longer export raw materials, says Orya

by Business News Report

The Managing Director, Nigeria Export Import Bank (NEXIM), Mr Robert Orya has said that Nigeria had shifted from exporting raw materials to exporting finished products.
Orya made this known in Abuja at a conference of the Coalition of Civil Society Groups which had “Wealth Creation through Non-Oil Entrepreneurship” as theme.
He said that the development was made possible by Federal Government’s resolve to shift attention from the oil sector to other sectors with huge economic potentials.
“Now we are exporting more of processed and manufactured products and I think that is a very good start,’’ he said.
“This step is paying off as most Nigerians are seizing the opportunity to tap into the abundant natural resources the country possesses. The kind of effort government is making in diversification in terms of the management of our own resources is commendable. A lot of money is now being put into capital projects rather than recurrent expenditure,” he said.

Orya stressed that there was need for more Nigerians to direct attention to the opportunities made possible by the diversification of the economy, adding that it was the responsibility of all citizens to develop the economy. “Nigeria belongs to all of us and nobody will come and restructure it for us; it is a collective responsibility of citizens to implement government policies and that is patriotism,’’ he stated.
In his speech, the Auditor-General of the Federation, Mr Samuel Ukura, lauded the civil societies’ role at promoting good governance and contributing to the growth of the democratic process in the country.
“We are in the same business of promoting good governance, be assured of our support and partnership for the benefit of everybody,’’ Ukura said. On his part, the President, Coalition of Civil Societies, Mr Bassey Etuk, said that the conference was convened to outline the role of civil society in promoting investment and financial growth in Nigeria.
He said that the societies came together to explore alternative means of developing the country’s economic sector outside oil.“We need to let the civil societies to understand the basic importance of entrepreneurship so that they can also be equipped with necessary financial knowledge as well contribute to national development,” Etuk said.


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