The Federal Government has reaffirmed its commitment to aggressively exploring non-oil revenue sources to reduce reliance on crude oil earnings and stabilise the economy.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, stated this at the 5th National Treasury Workshop in Abuja on Monday.
Edun, who was represented by the Permanent Secretary at the Ministry of Finance, Lydia Jafiya-Shehu, said the government would intensify efforts to harness revenue from alternative sources.
He noted that recent shifts in global energy policies, declining crude oil demand, and fluctuating prices had made it clear that Nigeria could no longer afford to depend solely on oil revenues.
He said the government was now focused on expanding revenue generation from sectors such as agriculture, solid minerals, manufacturing, tourism, the digital economy, and creative industries.
Edun described the theme of the workshop, Nigeria’s Revenue Challenges and the Way Forward: Exploring Non-Oil Alternatives, as timely, stressing the need for urgent action.
He said that while several non-oil sectors had shown strong potential for revenue generation, job creation, and economic transformation, they remained largely untapped.
