Nigeria Generated $2.593bn From Non-oil Exports

The Executive Director/CEO, Nigeria Export Promotion Council (NEPC), Ezra Yakusak, yesterday said in spite of the global economic recession, that affected most businesses last year, the non-oil sector recorded a significant growth as a total of 4,146,534 metric tons of product valued at $2.593billion were exported between January to June, this year.

He spoke during the presentation of the first half-year progress report on the non-oil sector in Abuja, stating that this represented a 62.37 per cent increase as against the sum of N1.59billion for the first half year in 2020 and 2021 which stood at $981.442 million.

According to him, these figures were culled from the non-oil export performance reports of various pre- shipment inspection agents who are appointed by the Federal Government to determine the volume, value and destination of non-oil export.

Yakusak added that this was in line with Section 12 of the Pre-shipment Inspection Act, Cap P25 LFN 2004. The analysis from this pre-shipment inspection agents indicates that January to June 2022 export performance is the highest half year non-oil export performance since 2018.

“Over 200 different products ranging from manufactured, semi processed, solid minerals to raw agriculture products were reported to have been exported in the period under review. The trend of products exported from Nigeria is gradually shifting from its traditional agricultural export to semi processed manufactured goods,” he said.

The ED said during the period under review, different Nigerian products were exported to 112 countries. Some of these products were exported to America, Asia, Europe, Oceania regions and Africa. He pointed out that Brazil, the United States and India were the top three export destinations based on the value of imports.