Federal Government is pursuing an aggressive strategy to increase foreign exchange earnings on non-oil export trade to $150 billion, a minister has said.
She explained that the strategy, which hinged on government’s zero oil plan strategy, was being planned for 10 years.
The minister stated this at the opening of a two-day capacity building for members of Women Farmers and Traders Association (WFTA), organised by the ministry in collaboration with the association.
Katagum explained that the Federal Government was capitalising on non-oil sector to exploit abundant deposit resources, while discouraging over dependence on oil.
“The move will enhance the productive competitive advantage of states in Nigeria, through the “One State, One Product Initiative,” driving local production of key commodities, especially edible oils, Shea butter, Sesame, starchy, sugar, textile, automobile assembly and agriculture,” she said.
She added that the Ministry of Industry, Trade and Investment was committed to its mandate of accelerating diversification of the country’s economy for growth and development, jobs creation and poverty alleviation with specific focus on women-owned business.
Katagum declared that the capacity building for women farmers and traders on trade facilitation was aimed at broadening knowledge on process and procedure of import and export trade.