The Nigerian Export Promotion Council (NEPC) has defined steps it took that yielded the very best ever half yr export worth of $2.593Bn or N1.146 trillion in non-oil exports. This represents the primary half of 2022, cruising to what stands out as the nation’s highest non-oil export worth prior to now six years.

Ought to the development proceed to finish of 2022, Nigeria could gross $5.186Bn, highest in previous six years.

This was disclosed in Port Harcourt within the week by the Nigerian Export Promotion Council (NEPC) throughout a one-day symposium on ‘Strengthening the non-oil export sector for nationwide financial improvement’ to stress export for survival.

In a presentation titled ‘The Journey So Far’ delivered on behalf of Ezra Yakusak (PhD), the manager director, NEPC, by the south-south zonal director, Joe Itah, the Council confirmed that Nigerian exported the worth of $1.78Bn in 2017.

In line with NEPC, 2018 was $2.27Bn, 2019 declined to $1.87Bn, 2020 grew a bit to $2.21Bn, whereas 2021 grew by 55.8 per cent to $3.44Bn, just for half of 2022 to fly to $2.593Bn, quoting government-appointed pre-shipment brokers.

NEPC attributed the rise to what it known as its new concentrate on grassroots improvement resembling its “export for survival” marketing campaign which it stated was geared toward sensitizing normal public to embrace non-oil export as a serious driver in diversification of Nigerian economic system.

Different components embody efforts to curb casual export by mainstreaming casual commerce actions; excessive exterior demand of Nigeria’s produced urea/fertilizer which is of export high quality, in addition to efficient collaboration with stakeholders on non-oil export.

Itah revealed that Nigeria exported over 200 completely different merchandise from January to June, 2022, starting from manufactured, semi-processed, offered minerals to uncooked agricultural commodities.

Itah said: “The non-oil export of Nigerian merchandise is steadily diversifying from its conventional agriculture exports to semi-processed/manufactures.” Uncooked agric and manufactured merchandise topped with uncooked agric 35.35 per cent and manufactured merchandise 36.23 per cent. Treasured stones claimed 13.22 per cent whereas others accounted for 17-5 per cent.

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NEPC stated it rolled out initiatives to diversify the economic system via its ‘zero oil plan’ in response to the recession in 2016 following the crash in worldwide crude oil costs.

The Council stated zero oil plan prepares Nigeria for a world during which crude oil is much less related and goals to extend in complete non-oil export volumes in Nigeria which ought to develop by 70 million tonnes.

It has rolled out export insurance policies for 22 main merchandise that might generate as much as $30 Bn a yr via cotton, rice, leather-based, gold, soya, sugar, cocoa, petrochemicals, fertiliser, palm oil, rubber, cement, tomato, banana, oranges, cashew, cassava, sesame, spices, ginger, shea butter and cowpea.

These have been geared toward creating jobs, create wealth alongside the worth chain, and create financial stability via international alternate earnings.

NEPC has additionally shared Nigeria into export zones primarily based on peculiar merchandise highlighted by the scheme, one state one product (OSOP) the place states concentrate on a minimum of one product for export.

NEPC says it’s going to assist create ease of manufacturing in wheat, iron ore, metal, petrochemicals, soya bean/soya meals, and so on. Precedence areas are Class A: Soya bean merchandise, sugar, cotton, palm oil, rice, rubber, petrochemicals, methanol, cocoa, gold. Class B: Cement, tomato (each contemporary and processed), oranges, cashew, cassava, sesame, spices, ginger, shea butter, cowpea.

Itah stated; “Nigeria will place itself to realize a 5 per cent international market share in strategic sectors over the following few years, to make sure ample scale of manufacturing and forestall sudden market distortions.’

Nigeria has additionally set targets per product and recognized the nations that lead in every product by way of import.

The One State One Product scheme says North West merchandise concentrate on cotton, leather-based, gold, rice, ginger, tomato, sesame, and spices. The North East focuses on cotton, leather-based, soya, sugar, ginger, cowpea, sesame, and spices; whereas North Centre focuses on soya bean, sugar, rice, cement, oranges, shea butter, and cashew.

The South West targets cocoa, petrochemicals, palm oil, cement, ginger, and cassava; South East targets palm oil, gold, rubber, rice, sesame, ginger, cassava, spices; whereas the South-South gargets petrochemicals, fertilizer & ammonia, palm oil, rubber, plantain, banana, espresso, cassava, ginger, and spices.

NEPC has mapped the locations of Nigeria’s merchandise with a worldwide mapping system which exhibits the USA main in import of rubber, sugar, fertilizer, cocoa; Mexico asks for soya beans; China asks for soya bean, petrochemicals, sugar, cotton, yam, palm oil, rice, gold, and leather-based; whereas Germany calls for for petrochemicals and cocoa.

NEPC stated it achieved the successes and hopes to satisfy its $30Bn goal with key tasks and initiatives which enhanced the visibility and facilitate commerce in made-in-Nigeria merchandise in international places.

NEPC additionally established export Commerce home launched in Sadat Metropolis Cairo, Egypt on the twenty first of March, 2022. It additionally signing of settlement with Nigerian Arabian Gulf Chamber of Commerce (NAGCC) to facilitate the es
tablishment of ETH in Dubai, UAE as an export hub for the Arab Gulf area on 2nd June, 2022.

It additionally created consciousness on the launch of Export Commerce Home Cairo, Egypt on the seventh, ninth & 14th June, 2022 in Kano, Lagos and Abuja with a complete of 250 members. The Council dealt with the launch/commissioning of Export Commerce Home in Lome, Togo on sixteenth June, 2022 in partnership with some organised non-public sector (OPS) underneath the NEXPORTRADE venture.

Heads of government-related companies and a few non-public sector useful resource individuals led by Emeka Unachukwu (former president of the Port Harcourt Chamber of Commerce, PHCCIMA) who now heads ‘Develop U’ organisation.