Non-oil export hits $2.5bn in six months – NEPC

Nigerian Export Promotion Council (NEPC) Govt Director/CEO, Ezra Yakusak, has reported that Nigeria’s non-oil sector export proceeds has recorded huge development because the nation exported merchandise value $2.593 billion within the first half of 2022. Yakusak, stated this whereas briefing newsmen in Abuja on the performances of NEPC from January to June 2022.

This non oil sector efficiency represents 62.37 per cent enhance from the $1.59 billion exported throughout the similar interval in 2021. He stated the “vital development” is regardless of the worldwide financial down flip as a result of pandemic that affected most companies in 2021. He stated that over 200 merchandise starting from manufactured, semi-processed, strong minerals, to uncooked agricultural merchandise had been exported within the interval below evaluate.

Yakusak whereas giving a break down of the the highest 15 exported product within the first half yr of 2022, stated Urea/ Fertiliser was the largest export because it recorded 32.49 % of whole export whereas Cocoa Beans, Sesame Seed and Aluminum Ingots contributed 12.65 %, 7 % and 5.07 % respectively. The highest three vacation spot for Nigerias exports based mostly on the worth had been Brazil, United States of America (USA) and India, out of the 112 nations throughout the Americas, Asia, Europe, Oceania areas and Africa. “Regrettably, of the highest 10 export vacation spot of Nigerian merchandise, none is an African nation. Solely Benin and Niger Republic made it to the highest 15,” he stated. Each Benin and Niger Republic are Nigeria’s instant neighbours and as such they’re historically gateways for casual export actions. This bi-annual report due to this fact signifies that the Council’s marketing campaign at mainstreaming casual export is regularly yielding outcomes,” he added.

He additionally famous that not like what was relevant up to now, the pattern of merchandise exported from Nigeria is regularly shifting from its conventional agricultural exports to semi-processed/manufactured items.

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