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Nigeria is no longer a mono-economy

Posted by on January 4, 2023 0

The federal government has announced that Nigeria’s economy is no longer dependent on oil.


Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed made the announcement during the ongoing “Public Presentation and Breakdown of the Highlights of the 2023 Appropriation Act”.


According to Ahmed, there’s been a revenue increase from non-oil sectors. She said; 


“We can no longer be termed a mono-economy. Nigerian economy is now diversified.

“The non-oil sector is now generating more revenue for the nation while oil and gas, and mining sectors are pulling back the economy.

“The major non-oil contributors to the country’s revenue are Agriculture and financial services.”

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