According to the Nigerian Export Promotion Council (NEPC), Nigeria earned 4.820 USD from non-oil exports in 2022.
This was said by Dr Ezra Yakusak, Executive Director/CEO of NEPC, on Friday in Abuja while presenting newsmen with the non-oil export performance for the year 2022.
This represents an increase of 39.91% over 2021, according to Yakusak.
According to him, the statistics are based on information gathered from the numerous Pre-shipment inspection agents that the Federal Government selected in accordance with the Pre-shipment Inspection Act of 2004.
The outcome is the highest value ever obtained since the NEPC was founded 47 years ago, according to Yakusak.
According to him, the current outcome supports the idea that the numerous export intervention programmes started and carried out by the Council and other sister organisations during the reviewed year were gradually producing the anticipated outcome.
“About 214 different products ranging from manufactured, semi-processed, solid minerals to raw agricultural products were exported in 2022.
“Of these products exported, Urea/Fertiliser topped the list with 32.87 per cent.
“The emergence of Urea/Fertiliser as the highest exported product in 2022 can be attributed to the Russia-Ukraine war which created an avenue for Nigeria’s Urea/Fertilizer to thrive.
“It is worthy to note that our products were exported to 122 countries with Brazil recording the highest import value of 12.27 per cent,’’ he said.
Giving a breakdown of the non-oil performance, Yakusak said that 1,172 exporters participated with Indorama-Eleme Fertilizer and Chemical Limited taking the lead with 23.25 per cent.
“Thirty-one issuing banks participated with Zenith Bank PLC processing the highest NXP values, 19 exit points were used with Apapa Port recording the highest tonnage.
“The month of December recorded the highest export value of 10.37 per cent,’’ he said.
The NEPC boss, however, regretted that of the top 10 importers of Nigerian products, no African/ECOWAS country made it to the top 10.
“We at the NEPC are working assiduously to change that trajectory, particularly in the wake of the Africa Continental Free Trade Area (AfCTA).
“The establishment of the Export Trade House Lome, the solo exhibition in Gambia, and participation at the Lome International Trade Fair are deliberate initiatives aimed at boosting non-oil export within the ECOWAS sub-region.
“Put differently, there is the need to increase intra-African trade given the huge opportunities and benefits therein,’’ he said.
Yakusak further said that the non-oil export of Nigerian products was gradually diversifying from its traditional agriculture exports to semi-processed/manufactured products.
“This is buttressed by the fact that out of the product group exported, agricultural products topped with 30.12 per cent
“Semi-processed/manufactured products 36.61 per cent and precious stones 17.06 per cent and others 13.21 per cent,’’ Yakusak said.
(NAN)