Why Nigeria must Shift from oil to non oil sector – ICAN
The Institute of Chartered Accountants of Nigeria, ICAN Eastern Zonal District, has stressed the need for a shift from oil dependency to non-oil sector for the survival of Nigerian economy.
They made the call as the Institute began its 17th Eastern Zonal Conference holding at the International Convention Centre, Awka.
www.odogwublog.com reports that the Conference is an annual prestigious event where chartered accountants from public practice, commerce and industry, public sector, academia, professional accountancy organizations and stakeholders across the globe gather to discuss issues considered germane to the zone, the institute, accountancy profession and the nation.
The conference which is attracting government officials, has its theme as “Revenue Beyond Oil; Leveraging Non-Oil Exportation for Nigeria’s Economic Survival with subthemes as “Global Skills and Service Export: The Road Map to Export Led Economy”, “Quality of Agro-Export Products: A Pathway to Unlocking Nigeria’s Non-Oil Export Revenue” and “Boosting SMEs Growth for Non-Oil Export Through Instrumentality of Fiscal and Monetary Policies.”
Declaring the event opened, Anambra State Governor, Professor Chukwuma Soludo represented by the Secretary to the State Government, Professor Solo Chukwulobelu, appreciated ICAN for carefully selecting the theme and noted that the present administration is already leveraging on and promoting non-oil exports.
Professor Soludo implored ICAN to deepen relationships with tertiary institutions and other professional bodies in Nigeria on the engagement of non-oil exports in the country to break away from the over dependence on oil export. UPSOT
In his address, ICAN President, Mallam Tijjani Musa Isa, said there is an urgent need for Nigeria to boost non-oil exports and diversify foreign exchange earnings and pointed out that shifting focus from oil dependency will not merely be economically beneficial, but would serve environmental, social and governance purposes.
Disclosing that advancement in technology is creating a new world, with less emphasis on crude oil, Mallam Tijjani noted that to ensure long-term economic growth and sustainability, Nigeria needs to diversify its economy by leveraging non-oil exports, in the first instance, and by moving towards the export of secondary or finished products. UPSOT
Speaking, the Eastern Zonal District Chairman of ICAN, Mrs. Chima Okikechi, said the theme is apt because this is an era whereby citizens especially professional accountants should look beyond oil revenue, tap into the knowledge of experts in the field of non-oil production and take advantage of the natural resources Nigeria is endowed with for sustainability in their economic and social achievement. UPSOT
On his brief contribution to the theme of the event, the State Accountant General, Dr. Chukwudi Okoli, urged the Federal Government to also focus it attention to other mineral resources spread across the six geopolitucal zones of the country for sustainable development and job creation.
The lead paper presenters include the Managing Director and Chief Executive Officer, Airborne Express and Air Business Express, Captain John Okakpu, the Consultant of ICH-DIEN Group, Chief Sir Kevin Obieri, and Vincent Onodugo, a professor of Management Sciences and Dean, Faculty of Business Administration, University of Nigeria, Enugu Campus.
