Nigeria’s non-oil exports grew by 39.91 per cent in 2022 to $4.820 billion, the Nigerian Export Promotion Council revealed Friday.
Semi-processed/manufactured merchandise made up 36.61 per cent of the exports beating Agriculture’s 30.12 per cent quantity of non-oil exports, whereas valuable stones made up 17.06 per cent, and others 13.21 per cent.
This was revealed by the Govt Director/CEO of the Nigerian Export Promotion Council, Ezra Yukusak, through the presentation of the non-oil export efficiency for the 12 months 2022 in Abuja.
In line with the NEPC boss, figures had been retrieved from varied Pre-shipment inspection brokers appointed by the Federal Authorities below the Pre-shipment Inspection Act, of 2004.
Yakusak famous that the nation’s non-oil exports document for 2022 reached its highest because the institution of the NEPC 47 years in the past, acknowledging export intervention programmes by the NEPC through the years.
He mentioned, “About 214 totally 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 listing with 32.87 per cent.
“The emergence of Urea/Fertiliser as the best exported product in 2022 might be attributed to the Russia-Ukraine warfare 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 best import worth of 12.27 per cent.”
Giving a breakdown of the non-oil efficiency, Yakusak mentioned 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 best NXP values, 19 exit factors had been used with Apapa Port recording the best tonnage.
“The month of December recorded the best export worth of 10.37 per cent,’’ he mentioned.
Yukusak, nonetheless, regretted that no African nation made it to the highest 10 listing of Nigerian product importers, including that the NEPC was working to reverse that by means of the Africa Continental Free Commerce Space.
“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, and participation on the Lome Worldwide Commerce Honest are deliberate initiatives geared toward boosting non-oil export inside the ECOWAS sub-region.
“Put in another way, there may be the necessity to enhance intra-African commerce given the large alternatives and advantages therein,” he said.
He added 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 valuable stones 17.06 per cent and others 13.21 per cent,’’ he mentioned.
