In a recent announcement, Chief Richard Abechi, the Director of Media and Publicity of the organising committee of the Africa International Trade Fair and Expo, stated that Nigeria is gearing up for an economic resurgence through its non-oil sectors.
Abechi highlighted the crucial role of various sectors such as agriculture, textiles, aviation, hospitality, culture, tourism, real estate, health services, banking, and insurance in driving Nigeria's growth trajectory.
The much-anticipated event, initially scheduled for February 21st to 23rd, 2024, has been rescheduled to take place from May 7th to 9th, 2024, at the prestigious Nicon Luxury Hotel in Abuja. With the theme "Non-oil products as catalyst for our national development," the trade fair promises to be a significant gathering, bringing together key stakeholders and players across various sectors.
Organised by Paradise Productions Limited in collaboration with the Federal Ministry of Innovation, Science, and Technology, the expo serves as a platform to showcase Nigeria's locally made goods and services. Additionally, it provides a fertile ground for the exchange of ideas, fostering networking opportunities among industry leaders.
Chief Abechi expressed optimism about the event's potential to strengthen Nigeria's position as a formidable player in the global arena. He underscored the importance of collective efforts in realising the nation's renewed hope agenda, emphasising that Nigeria is poised to emerge stronger with a diversified economy.
In the previous week, Nigeria's non-oil export trade experienced a significant uptick, climbing from $2.210 billion in 2020 to $4.517 billion in 2023, despite facing numerous challenges impacting the nation's economy. Dr. Osas Omorogbe, the Coordinator of the Nigeria Export Promotion Council (NEPC) at the Cross River State Coordinating Office, made this announcement during a training workshop held in Calabar for 100 exporters. Omorogbe stated, "As you may be aware, Nigeria’s non-oil exports have grown from $2.210 billion in 2020 to $4.517 billion in 2023, despite the numerous challenges affecting the economy."
The surge in Nigeria's non-oil export trade signifies a critical shift in the country's economic landscape, offering immense potential for diversification and resilience beyond its traditional reliance on the oil sector. By promoting locally made goods and services through platforms like the Africa International Trade Fair and Expo, Nigeria can capitalise on its diverse economic sectors, stimulate job creation, attract foreign investment, and ultimately, foster sustainable economic development. Moreover, reducing dependence on oil revenue enhances economic stability and resilience, making Nigeria less vulnerable to fluctuations in global oil prices and geopolitical uncertainties.
As anticipation mounts for the Africa International Trade Fair and Expo, stakeholders eagerly await the opportunity to contribute to Nigeria's economic revitalisation and reaffirm its status as a nation to reckon with on the international stage.