The Nigerian Export Promotion Council (NEPC) recently disclosed that from January to June 2022, Nigeria exported more than 4.146 million metric tonnes of non-oil products, worth $2.593 billion.
This demonstrates the country’s efforts at reducing its over-dependence on the oil sector for foreign exchange earnings and boosting export volume from the non-oil sector.
“of the top 15 exported products in the first half year of 2022, 32.49% of the total exports were urea/fertilizer
While presenting the first half year 2022 progress report to newsmen in Abuja, the Executive Director of NEPC, Dr Ezra Yakusak said that “this figure represents a 62.37% increase when compared to the $1.59 billion that was achieved in the first half year in 2021 and 2020 which stood at $981.442 million, respectively.”
According to Yakusak, “In spite of the global economic recession that affected most businesses in 2021, the sector recorded a significant growth in non-oil export.“
He said that over 200 different products, ranging from manufactured, semi-processed, solid minerals to raw agricultural products were reported to have been exported in the period under review and that Nigeria is gradually shifting to exports of semi-processed/manufactured goods as against what was applicable in the past, where the trend of products exported from Nigeria is usually traditional agricultural.
The Executive director also noted that of the top 15 exported products in the first half year of 2022, 32.49% of the total exports were urea/fertilizer, while cocoa beans, sesame seed and aluminium ingots contributed 12.65%, 7% and 5.07% respectively.
Yakusak also revealed that there was no incidence of export rejections during the period under review, noting that different Nigerian products were exported to 112 countries in the Americas, Asia, Europe, Oceania regions and Africa continents.
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