The Nigerian Export Promotion Council (NEPC), mentioned that Nigeria recorded a non-oil export earnings of 4.820 {dollars} in 2022.

The Government Director/CEO of NEPC, Dr Ezra Yakusak mentioned this on Friday in Abuja whereas presenting the non-oil export efficiency for yr 2022 to newsmen.

Based on Yakusak, this represented a rise of 39.91 per cent over 2021.

He mentioned that the figures characterize information collated from the assorted Pre-shipment inspection brokers appointed by the Federal Authorities beneath the Pre-shipment Inspection Act, 2004.

Based on Yakusak, the result’s the very best worth ever achieved for the reason that institution of NEPC 47 years in the past.

He mentioned this present end result lends credence to the truth that the a number of export intervention programmes initiated and executed by the Council and different sister businesses in the course of the yr beneath overview had been progressively yielding the specified end result.

“About 214 completely different merchandise starting from manufactured, semi-processed, stable minerals to uncooked agricultural merchandise had been exported in 2022.

“Of those merchandise exported, Urea/Fertiliser topped the checklist with 32.87 per cent.

“The emergence of Urea/Fertiliser as the very best exported product in 2022 could be attributed to the Russia-Ukraine conflict which created an avenue for Nigeria’s Urea/Fertilizer to thrive.

“It’s worthy to notice that our merchandise had been exported to 122 nations with Brazil recording the very best import worth of 12.27 per cent,’’ he mentioned.

Giving a breakdown of the non-oil efficiency, Yakusak mentioned that 1,172 exporters participated with Indorama-Eleme Fertilizer and Chemical Restricted taking the lead with 23.25 per cent.

“Thirty one issuing banks participated with Zenith Financial institution PLC processing the very best NXP values, 19 exit factors had been used with Apapa Port recording the very best tonnage.

“The month of December recorded the very best export worth of 10.37 per cent,’’ he mentioned.

The NEPC boss, nonetheless, regretted that of the highest 10 importers of Nigerian merchandise, no African/ECOWAS nation made it to the highest 10.

“We on the NEPC are working assiduously to alter that trajectory notably within the wake of the Africa Continental Free Commerce Space (AfCTA).

“The institution of the Export Commerce Home Lome, the solo exhibition in Gambia, participation on the Lome Worldwide Commerce Truthful are deliberate initiatives aimed toward boosting non-oil export inside the ECOWAS sub-region.

“Put in a different way, there’s the necessity to enhance intra-African commerce given the massive alternatives and advantages therein,’’ he mentioned.

Yakusak additional mentioned that the non-oil export of Nigerian merchandise was progressively diversifying from its conventional agriculture exports to semi-processed/manufactured merchandise.

“That is buttressed by the truth that out of the product group exported, agricultural merchandise topped with 30.12 per cent

“Semi processed/manufactured merchandise 36.61 per cent and treasured stones 17.06 per cent and others 13.21 per cent,’’ Yakusak mentioned.

(NAN)

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