Although this was a big challenge overdependence on oil for the economy of Nigeria, steps are being made toward diversification. Indeed, in 2024, non-oil exports in such sectors as agriculture and solid minerals have grown and constitute one of the key contributors to the country's revenue. Agriculture export leaped 123% this year, while non-oil sectors generated $2.7 billion in the first half of 2024.

While diversification is important, it's definitely not as easy as just moving into other industries. Infrastructure in Nigeria is not very good, moreover there are some regulatory challenges, and insecurity that could slowing down the development. What needs to be done by the government is fix those areas if it wants this to have a lasting effect and decrease reliance on oil.