Abuja: Dr Chinedu Amadi, an entrepreneur and Founder of Trade Horizon Magazine, emphasizes the significance of Nigeria’s non-oil sectors as critical drivers of the nation’s Gross Domestic Product (GDP) and overall economic growth. Amadi, who is also a geologist, made these remarks during an interview with News Agency of Nigeria (NAN) in Abuja while discussing recent economic performance indicators released by the National Bureau of Statistics (NBS).
According to News Agency of Nigeria, Amadi highlighted that Nigeria’s gradual transition from oil dependence to non-oil productivity is yielding positive outcomes, with agriculture, manufacturing, telecommunications, and service industries contributing more substantially to national revenue. He noted that diversification initiatives led by both government and the private sector are positioning Nigeria’s economy on a more sustainable path.
Amadi pointed out that non-oil sectors now constitute over 90 percent of Nigeria’s GDP, while the oil sector accounts for less than 10 percent. He emphasized that this trend underscores the nation’s economic strength in human creativity, innovation, and domestic production rather than crude exports. He further explained that sectors such as agriculture and information technology have generated millions of jobs, boosted rural development, stabilized household incomes, and reduced poverty levels.
He elaborated on the agricultural sector’s role as a pillar for economic expansion, citing the increasing investments in agritech solutions, mechanized farming, and agro-processing plants, which enhance export capacity and add value to raw produce. Regarding the manufacturing and creative industries, Amadi acknowledged the significant contributions of local producers to GDP growth through domestic production and exports, despite infrastructural challenges.
Amadi also praised Nigeria’s vibrant creative sector, including film, fashion, and music, which has become a global brand and contributes billions of naira annually to the economy. He highlighted the sectors’ dual role in generating revenue and positively projecting Nigeria’s image worldwide. Additionally, he recognized the transformative impact of financial technology (FinTech) and telecommunications as drivers of financial inclusion and digital service access expansion.
He urged policymakers to maintain investment-friendly environments by ensuring stable fiscal policies, reliable power supply, and infrastructure development to unlock further growth potential. Amadi stressed the importance of supporting small and medium enterprises (SMEs), fostering innovation, and building strong value chains to promote exports for Nigeria to fully capitalize on its non-oil potential.
Amadi commended government efforts in promoting industrial clusters, export processing zones, and youth entrepreneurship schemes, describing them as vital for job creation and economic resilience. However, he cautioned that economic diversification should extend beyond policy formulation to actionable programs that empower producers and investors.
He reaffirmed that sustained focus on the non-oil sectors would secure long-term stability for Nigeria’s economy amid global oil market volatility. To encourage and promote the engagement of the non-oil sectors in Nigeria’s advancement, Trade Horizon plans to organize the Nigeria Commodity Leadership and Exporters Recognition Awards 2025 in Abuja, aiming to reward leadership, innovation, and excellence in the various non-oil sectors of the nation’s economy.