Dr Chinedu Amadi, an entrepreneur and Founder of Trade Horizon Magazine, says Nigeria’s non-oil sectors remain critical drivers of the nation’s Gross Domestic Product (GDP) and overall economic growth.
Amadi, also a geologist, stated this in an interview with the News Agency of Nigeria (NAN) on Monday in Abuja, while analysing recent economic performance indicators released by the National Bureau of Statistics (NBS).
He said that the country’s gradual shift from oil dependency to non-oil productivity had begun yielding positive results, as agriculture, manufacturing, telecommunications, and the service industries contributed more significantly to national revenue.
According to him, the diversification efforts championed by government and the private sector are repositioning Nigeria’s economy on a more sustainable footing.
“The non-oil sectors now account for more than 90 per cent of Nigeria’s GDP, while the oil sector contributes less than 10 per cent,” Amadi said.
“This trend is a clear signal that the strength of our economy lies in human creativity, innovation, and domestic production, not just crude exports.”
He said sectors such as agriculture and information technology had created millions of jobs and boosted rural development, helping to stabilise household income and reduce poverty levels.
Amadi explained that the agricultural value chain — from crop production to processing and export — continued to attract investments due to improved government policies and the resilience of local farmers.
“Nigeria’s agricultural sector remains a key pillar for economic expansion. We have seen a surge in agritech solutions, mechanised farming, and agro-processing plants, all of which add value to raw produce and enhance export capacity,” he said.
On the manufacturing and creative industries, Amadi said that despite infrastructural challenges, local producers were contributing immensely to GDP growth through domestic production and exports of finished goods.
He noted that Nigeria’s vibrant creative sector — including film, fashion, and music — had become a global brand, contributing billions of naira to the economy annually.
“The creative economy is one of the fastest-growing sectors globally, and Nigeria stands tall in this space,” he added.
“Our entertainment and digital innovation sectors are not only generating revenue but also projecting the country’s image positively across the world.”
Amadi also highlighted the impact of financial technology (FinTech) and telecommunications, describing them as “revolutionary enablers” that have driven financial inclusion and expanded access to digital services.
He urged policymakers to sustain investment-friendly environments through stable fiscal policies, reliable power supply, and infrastructure development to unlock more growth potentials.
“For Nigeria to fully maximise its non-oil potential, we must support small and medium enterprises (SMEs), encourage innovation, and build strong value chains that promote exports,” he said.
Amadi commended government efforts in promoting industrial clusters, export processing zones, and youth entrepreneurship schemes, noting that such initiatives were vital to job creation and economic resilience.
He, however, advised that economic diversification should not end at policy formulation but must translate into actionable programmes that empower producers and investors.
“The non-oil sector is the heartbeat of Nigeria’s future economy. With the right infrastructure, credit support, and innovation ecosystems, Nigeria can achieve inclusive growth and global competitiveness,” Amadi said.
He reaffirmed that sustained focus on the non-oil sectors would ensure long-term stability for Nigeria’s economy amid global oil market volatility.
According to him, it is in or to encourage and promote the engagement of the non-oil sectors in the drive towards Nigerian’s advancement that Trade Horizon plans to organise the Nigeria Commodity Leadership and Exporters Recognition Awards 2025 in Abuja to reward leadership, innovation, and excellence in the various non-oil sectors of the nation’s economy. (NAN)
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