Non-oil Export Increases To $2.59bn In H1, 2022

The country’s non-oil export rose to about $2.59 billion in the first half of the year, representing an increase of 62.37 per cent compared to $1.60 billion recorded during the same period in 2021.

The Executive Director/Chief Executive, Nigerian Export Promotion Council (NEPC), Dr. Ezra Yakusak, said this remained the highest performance in non-oil exports in recent times.

Speaking at the maiden National Forum of States Committee on Export Promotion (SCEP) in Abuja, he said the non-oil export performance of the country had been on the onward movement within the last year, notwithstanding the impact of COVID-19 on the economy in 2019 and 2020.

The NEPC boss, however, lamented that as important as the SCEP is to non-oil export development in the country, the potential of the committee was not being fully utilised.

He said, “It is on this note that we convened this forum to discuss identified challenges bedevilling SCEP operations in each state and to jointly proffer workable solutions.”

He said the council remained committed to reinvigorating the SCEP and ensuring its optimal performance for the growth of the non-oil export sector.

Yakusak, also pointed out that in pursuant to the aggressive economic diversification agenda of the federal government, NEPC had earlier in the year, launched a national non-oil export stimulation initiative tagged the Export4Survival, adding that the campaign was developed to boost foreign exchange earnings through the non-oil export sector.