ONE - The sesame seeds industry has been growing silently in the Nigerian commodity space. In the first quarter of this year, it tried to drag us out of a trade deficit with a 76% increase in its seed exports.
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Sesame seed is the ideal Nigerian export product because it is easy to produce; it does not require much water, or fertiliser, is easy to preserve and in high demand internationally.
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TWO - Segilola Gold project in southwest Nigeria would cost about $600 per ounce to produce, compared to global production cost of $800 - $1100 per ounce. The low cost of production is due to the high quality of the gold.
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The present political administration has been entirely intentional in diversifying the economy into non-oil sectors like the gold mining sector. Mining gold could be the future.
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THREE - The service sector makes up over half of Nigeria’s economy. As the ACFTA kicks off, Nigeria can reposition itself as a services economy to drive growth by exporting these services.
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Under Nigeria’s services sector, some of the top-performing sub-sectors such as information and communication technology, trade, and the professional, scientific & technical services.
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