Tech, Agriculture are Essential Growth Pillars for Nigeria’s Non-Oil Growth - 9mobile CEO
As Nigeria looks to diversify its economy and reduce its dependence on oil, key sectors like tech agriculture and manufacturing are essential growth pillars, says Obafemi Banigbe, CEO of 9mobile, during the recent 2024 BNI National Business Conference in the Ogun state capital, Abeokuta, where he spoke on Africa’s Emerging Role in the Global Economy.
He pointed out that these sectors have a critical role to play in boosting Nigeria’s non-oil exports and creating sustainable economic opportunities for millions of Nigerians. He opined that Technology stands at the nexus of driving other sectors.
What did he say?
AGRICULTURE: THE UNTAPPED POTENTIAL
Agriculture has long been the backbone of Nigeria’s economy, with immense potential for growth, providing livelihoods for a large portion of the population—over 35% of total employment in the country comes from this sector. However, for agriculture to truly drive non-oil export growth, greater investment and innovation are essential.
According to Banigbe, modernising the agricultural sector and integrating it with technology can help unlock new markets and improve productivity. With the right support, agriculture could meet domestic food demands and also serve as a key export sector, particularly in processed goods. This has the potential to position Nigeria as a major player in global markets, creating jobs, earning foreign exchange, and promoting economic sustainability.
MANUFACTURING: DRIVING INDUSTRIAL GROWTH
Similarly, the manufacturing sector presents another under-tapped opportunity for Nigeria’s non-oil export strategy. While the country has historically relied on oil exports, a more intentional shift towards manufacturing could generate significant foreign exchange and open up opportunities for millions of jobs.
Nigeria’s large population offers both a domestic market for goods and a workforce to support industrial growth. With the right policies and investments, the manufacturing sector could be a key driver of export growth. From textiles to processed foods and consumer goods, Nigeria has the potential to develop a robust manufacturing base capable of competing in international markets.
9MOBILE’S VISION FOR DIVERSIFICATION
By supporting agriculture, manufacturing, and other critical sectors, 9mobile is positioned to play a key role in Nigeria’s efforts to reduce its dependence on oil amidst global economic uncertainties. Banigbe’s vision for 9mobile goes beyond telecommunications. The company is committed to exploring opportunities in sectors like agriculture, manufacturing, and fintech, positioning itself as a catalyst for broader economic diversification. This approach not only drives 9mobile’s growth but also contributes to Nigeria’s economic future. As part of this vision, 9mobile is investing in digital solutions to streamline operations, improve efficiency, and open new export channels across these industries. The future of Nigeria’s economy lies in diversification, and 9mobile is dedicated to being a part of that transformation.
Banigbe’ shared his insights and perspectives during the conference to over 2,000 participants, including industry leaders, entrepreneurs, and professionals. He was joined by a cast of distinguished speakers, and business leaders such as Nigeria’s former President, Chief Olusegun Obasanjo, as the Special Guest of Honour, alongside other notable figures including Dr. Adebola Olubanjo FCA, and Chief Kola Akosike of Oduacimma to discuss ways of harnessing emerging opportunities for growth and “building” bridges for a greater economy with the theme “Beyond Borders: Exploring Global Opportunities.
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Source: Legit.ng
