Vice President Kashim Shettima has cautioned that volatile oil prices, exchange rates, and capital flows could frustrate Nigeria’s economic policies, urging an accelerated transition from an oil-based to a non-oil economy.
Speaking at the 156th National Economic Council (NEC) meeting, Shettima noted that non-oil sectors now account for about 96% of Nigeria’s GDP and nearly three-quarters of government revenue.
The council resolved to deepen stakeholder engagement to boost non-oil revenues, in line with President Bola Tinubu’s economic blueprint.
A committee, chaired by the Cross River State Governor, was also approved to implement the president’s directive on actualising legacy projects across the country.
Disclaimer:
This report is based on official statements from the National Economic Council. Economic projections are subject to change due to global and domestic factors.
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