Non-oil sector, Financing, Nigeria, Economy, Mass media


ln the case of Nigeria, the dominance of earnings from crude oil as a source of external revenue become pronounced in the wake of the positive oil shocks of the 1970s as the Organisation of Petroleum Exporting Countries (OPEC) began to effectively exert its powers as a cartel. In the light of a few developments in the sector, it is clear that the oil sector can no longer power the economy of Nigeria. As a result the non-oil and the private sector are required to ensure that Nigeria develops well-rounded and sustainable economic outcomes.

Author Bio

The author Ugochukwu, A. Okoroafor is the Director Corporate Communication Department, Central Bank of Nigeria.

Publication Title

CBN Bullion







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