The Executive Chairman, Federal Inland Revenue Service, Mr Babatunde Fowler, has said that Nigeria will earn at least 80 per cent of its revenues from the non-oil sector in the next three years.
According to a statement from the FIRS on Tuesday, Fowler said this at the Nigeria-Canada Investment Summit in Abuja.
He noted that the non-oil sector’s contribution to the Nigerian economy had risen to 60 per cent by November 2019 from 54 per cent in December 2018.
The FIRS boss explained that the continuous drop in oil prices was a sign that attention should be focused on the non-oil sector of the economy, which he said was more sustainable.
He said, “We are moving from oil dependent to non-oil dependent economy. We believe that in the next three years, the non-oil sector is going to contribute at least 80 per cent of the total revenue.
“You may ask where that is going to come from. It is going to come from agriculture.”
Source: Punch Newspaper
