Nigeria has a new administration. It inherits an economy that is skewed in favour of oil. Although crude oil accounts for more than 90% of its exports and 50% of government revenue, it contributes merely one-tenth to the national Gross Domestic Product (GDP). Nigeria is Africa's most populous country and arguably its biggest economy. The need for economic diversification has been recognised for years but rarely has it acquired more urgency than now.
Participants joined in for a stimulating evening of discussion on the challenge of economic diversification of Nigeria with Dr. Zainab Usman, Director of Africa Program at the Carnegie Endowment for International Peace. The event was moderated by Amit Jain, the Director of the NTU-SBF Centre for African Studies.