Dr. Chinedu Amadi, entrepreneur and Founder of Trade Horizon Magazine, has emphasized that Nigeria’s non-oil sectors are pivotal to the nation’s Gross Domestic Product (GDP) and long-term economic progress.
In an interview with the News Agency of Nigeria (NAN) on Monday in Abuja, Amadi, who is also a geologist, analyzed recent economic data from the National Bureau of Statistics (NBS). He noted that the country’s gradual diversification from oil dependency toward non-oil productivity was already producing encouraging results, with agriculture, manufacturing, telecommunications, and services contributing significantly to national income.
According to him, the government’s and private sector’s diversification initiatives have been instrumental in placing the economy on a more stable and sustainable foundation.
“The non-oil sectors currently account for over 90 percent of Nigeria’s GDP, while the oil sector contributes less than 10 percent,” Amadi stated. “This clearly shows that our economic strength lies in innovation, creativity, and domestic production rather than reliance on crude oil exports.”
He added that agriculture and information technology had generated millions of jobs and boosted rural development, helping to improve household incomes and reduce poverty.
Amadi highlighted that the agricultural value chain — from cultivation to processing and export — continued to attract significant investment due to favorable policies and the resilience of local farmers.
“Nigeria’s agriculture remains a solid base for expansion. The growth in agritech, mechanised farming, and agro-processing has added value to raw produce and strengthened our export capacity,” he explained.
Speaking further, Amadi noted that the manufacturing and creative industries, despite infrastructure challenges, had become major GDP contributors through domestic production and exports.
He described Nigeria’s creative sector — spanning film, fashion, and music — as a global force, generating billions in annual revenue and showcasing the country’s talent and innovation worldwide.
“The creative economy is one of the world’s fastest-growing sectors, and Nigeria continues to make its mark,” he said. “Our entertainment and digital innovation industries not only generate revenue but also enhance our national image.”
Amadi also praised the transformative roles of financial technology (FinTech) and telecommunications, calling them “key enablers” that have deepened financial inclusion and expanded digital access.
He urged policymakers to maintain an enabling environment through consistent fiscal policies, improved infrastructure, and reliable power supply to fully unlock Nigeria’s non-oil potential.
“To harness the full capacity of our non-oil economy, we must strengthen small and medium enterprises (SMEs), encourage innovation, and build value chains that support exports,” he added.
Amadi commended government programmes such as industrial clusters, export processing zones, and youth entrepreneurship schemes, noting that they were vital for job creation and economic resilience.
He, however, stressed that diversification must go beyond policy statements to real, measurable actions that empower producers, innovators, and investors.
“The non-oil sector remains the cornerstone of Nigeria’s economic future. With strong infrastructure, accessible financing, and innovation-driven ecosystems, the nation can achieve sustainable and inclusive growth,” Amadi said.
He announced that Trade Horizon Magazine would host the Nigeria Commodity Leadership and Exporters Recognition Awards 2025 in Abuja — an initiative aimed at celebrating leadership, innovation, and excellence within the country’s non-oil industries as part of efforts to drive national development.