Nigerian Export Promotion Council (NEPC) Executive Director/CEO, Ezra Yakusak, has reported that Nigeria’s non-oil sector export proceeds has recorded massive growth as the country exported products worth $2.593 billion in the first half of 2022. Yakusak, said this while briefing newsmen in Abuja on the performances of NEPC from January to June 2022. This non oil sector performance represents 62.37 per cent increase from the $1.59 billion exported within the same period in 2021. He said the “significant growth” is despite the global economic down turn due to the pandemic that affected most businesses in 2021. He said that over 200 products ranging from manufactured, semi-processed, solid minerals, to raw agricultural products were exported in the period under review.
Yakusak whole giving a break down of the the top 15 exported product in the first half year of 2022, said Urea/ Fertiliser was the biggest export as it recorded 32.49 percent of total export while Cocoa Beans, Sesame Seed and Aluminum Ingots contributed 12.65 percent, 7 percent and 5.07 percent respectively. The top three destination for Nigerias exports based on the value were Brazil, United States of America (USA) and India, out of the 112 countries across the Americas, Asia, Europe, Oceania regions and Africa. “Regrettably, of the top 10 export destination of Nigerian products, none is an African country. Only Benin and Niger Republic made it to the top 15,” he said. Both Benin and Niger Republic are Nigeria’s immediate neighbours and as such they are traditionally gateways for informal export activities. This bi-annual report therefore indicates that the Council’s campaign at mainstreaming informal export is gradually yielding results,” he added.
He also noted that unlike what was applicable in the past, the trend of products exported from Nigeria is gradually shifting from its traditional agricultural exports to semi-processed/manufactured goods. While manufactured products made up 36.28 percent of exports, The NEPC Boss stated that raw agriculture products made up 33.35 percent and Precious Stones 13 .22 percent and others are 17.15 percent. He said, a total of 572 companies participated in exporting Nigerian products in the period under review. “This is an indication that Nigerian businesses are gradually embracing the diversification campaign of the NEPC by venturing into non-oil exports. On export rejects, Yakusak said none of Nigeria’s products was rejected within the period. He however assured that the federal government is working assiduously in a bid to reduce the incidences of export rejects. “The NEPC has finalized arrangements to embark on an Inter-Agency Working/Fact finding visit to the United Kingdom to ascertain specific causes for rejection of imported commodities from Nigeria”.
“The mission is to provide Nigerian Export regulatory /facilitating Agencies the opportunity of observing the processes of agricultural commodities import procedures and to also interact with Port Health and Food Import Regulatory Agencies at the Boarder Control Points in the UK,” he added. We have also commenced training and re-tr fling of our personnel. This is intended to close identified skill gaps and improve capabilities/knowledge of employees for optimum output. This is germane considering our current efforts/ campaign for massive investment in non-oil export. “I am optimistic that our vision to make the world a market place for Nigerian Non-Oil export is not just lip service but a commitment to the people of Nigeria. This commitment is borne out of the desire to build a prosperous future for our people through diversification of the Nigerian economy by increasing the basket of exportable products from Nigeria.
