recently disclosed that the country’s non-oil sector contribution to the Nation’s economy jumped to $2.593b in first quarter of 2022 from $1.597b within same period in 2021, representing a 64.23% increase.
Reacting to the development, the Chief Executive Officer , Centre for the Promotion of Private Enterprise , Dr Muda Yusuf in a chat with DAILY POST on Monday while commending the feat, said federal government needs to support real sector with infrastructure, financing and logistics.“We are hoping that more will be done. For this to be done we are expecting productivity in the non-oil, competitiveness is very low.
“We need to support the real sector, with appropriate infrastructure, financing and logistics. The bulk of the trade within the Economic Community of West African States is informal which aren’t not recorded, so if this is formalized the figure of export may jump”, he said. Yusuf who was also the former Director General Lagos Chamber of Commerce and Industry recommended that, “All the problems of exporting should be sorted out; problems with the Nigeria Ports, multiple checkpoints, non-tariffs and others should be addressed”.
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