Nigeria’s non-oil exports grew by 39.91 p.c in 2022 to $4.820 billion, the Nigerian Export Promotion Council NEPC revealed on Friday.
Semi-processed/manufactured merchandise made up 36.61 p.c of the exports beating Agriculture’s 30.12 p.c quantity of non-oil exports, whereas treasured stones made up 17.06 p.c, and others 13.21 p.c.
This was revealed by the Government Director/CEO of the Nigerian Export Promotion Council, Ezra Yukusak, through the presentation of the non-oil export efficiency for the yr 2022 in Abuja.
In response to the NEPC boss, figures had been retrieved from varied Pre-shipment inspection brokers appointed by the Federal Authorities underneath the Pre-shipment Inspection Act, of 2004.
Yakusak famous that the nation’s non-oil export file for 2022 reached its highest because the institution of the NEPC 47 years in the past, acknowledging export intervention programmes by the NEPC over time.
He stated, “About 214 totally different merchandise starting from manufactured, semi-processed, strong minerals to uncooked agricultural merchandise had been exported in 2022.
“Of those merchandise exported, Urea/Fertiliser topped the listing with 32.87 p.c.
“The emergence of Urea/Fertiliser as the best exported product in 2022 may be attributed to the Russia-Ukraine conflict which created an avenue for Nigeria’s Urea/Fertilizer to thrive.
“It’s price noting that our merchandise had been exported to 122 international locations with Brazil recording the best import worth of 12.27 p.c.”
Giving a breakdown of the non-oil efficiency, Yakusak stated 1,172 exporters participated with Indorama-Eleme Fertilizer and Chemical Restricted taking the lead with 23.25 p.c.
“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 p.c,’’ he stated.
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 the Africa Continental Free Commerce Space.
“We on the NEPC are working assiduously to vary that trajectory, significantly 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 aimed toward boosting non-oil export inside the ECOWAS sub-region.
“Put in another way, there may be the necessity to improve intra-African commerce given the large alternatives and advantages therein,” he said.
He added that the non-oil export of Nigerian merchandise was step by step 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 p.c.
“Semi-processed/manufactured merchandise 36.61 p.c and treasured stones 17.06 p.c and others 13.21 p.c,’’ he stated.
NP/Dominica Nwabufo
