Concentric Economic Diversity

Nigeria, through this plan, aims to revitalise its economy by elevating key sectors that drive the bulk of Nigeria’s GDP. These include non-oil sectors such as agriculture (25% of GDP), manufacturing (9%), trade (16%), and the oil and gas sector (9%). Collectively, these sectors account for about 60% of Nigeria’s GDP.

As Nigeria presses on with its economic revitalisation and diversification thrust; it is important to set the stage for the improved performance of sectors that do not currently drive the bulk of economic growth but have significant potential to do so in the future given the country’s human and natural endowments, and global megatrends. These include culture, tourism, and creatives, ICT and solid minerals. Investing in support of MSME growth and strengthening the enabling business environment will be key to achieving these goals