Segun Awolowo

Crude Price: Group Tasks NEPC on Economic Recovery

The New Initiative for Credible Leadership has tasked the Nigerian Export promotion Council (NEPC) to increase its activities towards ensuring increase in non-oil export as solution to the economic hardship caused by fallen crude oil price.

It said NEPC has a crucial role to play in Nigeria’s economic recovery since there is finally a consensus that the era of depending on crude oil as the country’s major revenue source is over.

A statement issued by the group on Thursday in Abuja noted that the current economic challenge offers a unique chance for NEPC to fulfill its mandate of developing and diversifying the nation’s export trade since it can easily get the buy-in of Nigerians at this point.

The statement by the Executive Director of New Initiative for Credible Leadership, Rev Samson Onwu said the NEPC must also live up to its responsibility of assisting the development and promotion of export-oriented industries since the country must first have products to sell to the world before increasing its export.

It said “Now is a good time as any for the Executive Director of NEPC, Mr Olusegun Awolowo to implement all the impressive concepts and ideas he had articulated in the past. His public pronouncements have been source of hope in the past and we believe implementation of his idea will bring the much needed succor to Nigerians.

“Our observation is that Nigerians have been looking inwards since the pressure on the naira first manifested and our belief is that it is a matter of time before the small and medium scale industries that were recently re-activated will begin to produce surplus to local consumption. NEPC must prepare for this eventuality to ensure that there would be no glut and that industries are able to export such surpluses without breaking sweat.

“We equally expect that Mr Awolowo can now activate the various foreign contacts and relationships that the Council has built in the past years for the benefit of Nigerian companies that are ready to export their goods and services.”

The group advised the NEPC Executive Director not to shy away from exploiting the cooperation that is possible with government agencies with complementary functions to ensure that the economy is out of the woods.



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