PROMOTING INCLUSIVE AND SUSTAINABLE ECONOMIC DIVERSIFICATION THROUGH NIGERIA'S NON-OIL ECONOMY

Nigeria's heavy dependence on crude oil has made its economy highly vulnerable to fluctuations in global oil prices, with oil accounting for the majority of export earnings and government revenue. The declining global demand for fossil fuels, driven by the adoption of alternative energy sources, has further emphasized the need for sustainable economic diversification. This study examines the importance of harnessing non-oil sectors to reduce economic vulnerability, stimulate export growth, and promote sustainable development in Nigeria. It highlights the neglect of agriculture and other productive sectors following the discovery of oil and argues that revitalizing these sectors can enhance government revenue, create employment, reduce poverty, and improve economic resilience. The study concludes that strengthening non-oil exports and productive industries is essential for achieving inclusive and sustainable economic growth in Nigeria.