Nigeria Generates Over $2 Billion from Export Revenue in 2024- NEPC
Nigeria has generated 3.834 million metric tonnes of non-oil products, representing the sum of over two billion dollars from export revenue in the first half of this year.
This is an increase of 6.26% as against the sum of two point five three nine billion dollars for the first half of last year.
The Executive Director of the Nigerian Export Promotion Council, Mrs. Nonye Ayeni made this known in Abuja at the presentation of the Progress Report on the non-oil export.
Mrs Ayeni attributed the increase in the value of exported products to the Council’s “Operation Double Your Exports” mantra and export intervention programmes.
Mrs. Ayeni said a total of 211 products were exported in the first half of 2024, ranging from agricultural commodities to extractive industries, while, cocoa bean was the most exported commodity followed by fertilizer.
According to Mrs. Ayeni, this is an indication that Nigerian products are gradually diversifying from traditional raw agriculture exports to semi-processed/ manufactured products
The Executive Director said a total of 873 companies participated in exporting Nigeria’s products which indicated that Nigerian businesses were increasingly embracing the diversification campaign of the Council from oil to non-oil export.
She explained that also in the first half of this year, non-oil products from Nigeria were exported to 122 countries such as Africa, the Americas, Asia, Europe, and Oceania regions with Netherlands, Malaysia, and Brazil leading based on the values of imports of non-oil products from Nigeria.
Interestingly, only Ghana made it to the top 15 global importers from Nigeria, occupying the 14th position on the export log.
On reducing the volume of rejects on Nigerian products Mrs. Ayeni said the Council was collaborating with relevant agencies and parastatals to create awareness, build capacity for good agricultural practices, labelling and packaging to ensure adherence to the quality and standards of exports in the global market,
The Executive Director maintained that the council was positioned to contribute immensely to the country’s Gross Domestic Product, increase foreign exchange earnings and ensure sustainable economic growth, in line with the Renewed Hope Agenda of President Bola Tinubu for job creation, and poverty alleviation.
Ihuoma Eke
