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By Adaora Adibe/ Nafisat Abdulrahman
As Nigeria grapples with the challenges of an import-driven economy, Raw Materials Research Development Council is calling for a strategic repositioning of the non-oil sector to drive sustainable economic growth and self-reliance. This shift comes as the nation seeks to reduce its heavy dependence on oil revenues, which have historically dominated its economy.
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This key issue was discussed during a fortnightly virtual Zoom meeting which engaged a team of experts across the world, with the theme, Repositioning Nigeria’s Non-Oil Sector For Economic Growth And Self Reliance In An Import Driven Demand Market; organized by the Corporate Affairs Directorate of the Raw Materials Research and Development Council (RMRDC), held on Thursday 19th September 2024.
During the discussion, the Former Director General of the National Office for Technology Acquisition and Promotion (NOTAP), Dr. Ibrahim Dan Azumi, highlighted Nigeria’s significant potential in the non-oil sector. He noted that the country possesses the necessary manpower, land, and favorable climate to effectively enhance its agricultural sector.
“If you look at the oil sector, yes, we produce crude, we are among the highest producers of crude, but we unfortunately still import refined products, so I wouldn’t want us to tow that way in the agricultural sector.”
Dr. Dan Azumi, however, noted that the non-oil sector of the Nigerian economy is bedeviled with challenges of extreme insurgency, regular flooding, herdsmen/farmers conflict, processing challenges, and post-harvest loss, among others, which need urgent attention.
“agriculture collectively contributes approximately 22 percent of the GDP of this country and the agric sector is the larger employer of labor amounting to about 36 percent then 80 percent of the farmers that produce the food we eat are mainly small-scale farmers; so for the above to make any significant contribution we must, first of all, have self-sufficiency in terms of food production that is food security. It is only when you are satisfied that you will have the means to export the excess, but the scenario in this country now, even the food security is not there, so exporting excess is simply a dream to come true”, he said.
A Development Expert and Researcher, Dr Bola Olugbemi, underscored the importance of the Nigerian government prioritizing the non-oil sector. He highlighted the risks associated with relying heavily on crude oil revenues in national budgets, particularly during downturns in the oil market. He observed that the non- oil sector if well harnessed will create more jobs amongst many other benefits.
Meanwhile, a Geo-Environmental Researcher Prof. Hilary Inyang stated that while Nigeria is on the right path, more progress is necessary. He emphasized the need for accelerated efforts and improvements in research. With Nigeria’s abundant resources, he suggested that the RMRDC is well-positioned to lead these initiatives due to its role at both the bench and policy levels.
Prof Inyang further highlighted the importance of transitioning from merely harvesting raw materials to focusing on research that addresses the country’s socioeconomic development needs, aligning these efforts with five-year development plans. This strategy he said aims to ensure that Nigeria and Africa do not occupy a subservient role in the Industrial Revolution.
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According to a Deputy Director at the African Academy of Science Nairobi Kenya Prof. Kem Kumbah , Nigeria should look to successful countries like China, India, and Korea for valuable lessons. He emphasized that, as the giant of Africa, Nigeria should concentrate on strengthening trade relationships with neighboring African countries like Congo, Ethiopia, Sudan, Gabon Cameroon etc as they represent the largest market opportunity before expanding globally.
“Nigeria is a big asset for the black world and Mandela said it, the day Nigeria rises, the black world will rise. Nigeria should consider being the dominant power in Africa as their biggest market is outside”, he stated.
The meeting had in attendance diverse group including economists, academics, entrepreneurs as well as representatives from RMRDC State coordinating offices across the country.
