Nigeria’s non-oil exports increased by 39.91% to $4.820 billion in 2022. Semi-processed and manufactured goods accounted for 36.61% of exports, exceeding agriculture’s total of non-oil exports of 30.12%.
This information was provided on Friday in Abuja during a presentation of the non-oil export performance for the year 2022 by the Executive Director/CEO of the Nigerian Export Promotion Council.
The Pre-shipment Inspection Act of 2004 authorized the Federal Government to appoint pre-shipment inspection agents, according to information provided by NEPC.
Yakusak acknowledged the NEPC’s export intervention programs over the years and stated that Nigeria’s non-oil export record for 2022 hit its best level since the organization’s founding 47 years earlier.
He said: “About 214 different products ranging from manufactured, semi-processed, solid minerals to raw agricultural products were exported in 2022.
“Of these products exported, Urea/Fertiliser topped the list with 32.87 per cent.
“The emergence of Urea/Fertiliser as the highest exported product in 2022 can be attributed to the Russia-Ukraine war which created an avenue for Nigeria’s Urea/Fertilizer to thrive.
“It is worthy to note that our products were exported to 122 countries with Brazil recording the highest import value of 12.27 per cent.”
The head of NEPC highlighted that the majority of the exporters were associated with chemical corporations based in Nigeria, mentioning exporters connected to the Indorama-Eleme Fertilizer and Chemical Limited.
Indorama-Eleme Fertilizer and Chemical Limited, accounted for the majority with 23.25 percent of the 1,172 exporters, he stated, adding: “Thirty one issuing banks participated with Zenith Bank PLC processing the highest NXP values, 19 exit points were used with Apapa Port recording the highest tonnage.
“The month of December recorded the highest export value of 10.37 per cent.”
In addition, he pointed out that no African country ranked in the top ten buyers of Nigerian goods, but the BEPC is working to change that with the creation of the Africa Continental Free Trade Area.
“We at the NEPC are working assiduously to change that trajectory, particularly in the wake of the Africa Continental Free Trade Area (AfCTA).
“The establishment of the Export Trade House Lome, the solo exhibition in Gambia, and participation at the Lome International Trade Fair are deliberate initiatives aimed at boosting non-oil export within the ECOWAS sub-region.
“Put differently, there is the need to increase intra-African trade given the huge opportunities and benefits therein”.
He continued by saying that non-oil exports from Nigeria were gradually shifting from traditional agricultural exports to semi-processed/manufactured goods.
He continued by saying that non-oil exports from Nigeria were gradually shifting from traditional agricultural exports to semi-processed/manufactured goods.
