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NIRP transforms Nigeria's economy

31 July 2013, 07:53Emeka Adebanji

Abuja -  Nigeria is confident its' Industrial Revolution Plan (NIRP) would transform the economy from an export-reliant to a self-sustaining one.

Minister of Trade and Investment, Olusegun Aganga, hailed the plan as the nation’s first comprehensive integrated and strategic road map to industrialization.

“Manufacturing is the way forward for Nigeria. History shows that no country in the world has ever become rich by exporting raw materials without also having an industrial sector," he said in Abuja.

“For the first time in history, we want to link innovation to industry,” Aganga added.

Nigeria is implementing NIRP in partnership with United Kingdom's Department for International Development (DFID) and World Bank.

Trade and Investment Desks have been established.

The Nigerian economy is significantly reliant on the oil and gas sector, even though agriculture is the most important Gross Domestic Product contributor and the largest employer.

More than 80 percent of the Nigerian government’s revenue are generated from the hydrocarbons exports.

- CAJ News


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