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Tag: Export

FG targets 6500 megawatts power generation in six months
Electricity featured

Nigeria projects $1bn annual power export revenue by 2026

The Federal Government is forecasting almost $1 billion (approximately N1.49 trillion) in yearly revenue from exporting electricity to 15 West African countries under the Economic Community of West African States sub-region, starting in June 2026. This earning projection is based on the potential revenue from exporting a full 600 megawatts capacity, billed at the prevailing […]

Business

Osun partners FG to export made-in-Osun goods globally

Osun State Governor, Ademola Adeleke, has revealed that his administration is actively collaborating with two Federal Government agencies to ensure that goods produced within the state successfully reach the global market. Governor Adeleke specifically identified the collaborating agencies as the Nigerian Export Promotion Council and the Nigerian Investment Promotion Commission, stating the partnership aims to […]

Monthly petrol import drops by 990m litres - Minister
Oil and Gas

Nigeria achieves petrol export milestone with N371.54bn shipment

Nigeria has made a significant breakthrough in its energy sector, exporting Premium Motor Spirit, popularly known as petrol, worth N371.54 billion in the second quarter of 2025. This milestone marks the first recorded shipment of the product after the Dangote Petroleum Refinery, Africa’s largest single-train refining complex, came online. According to the National Bureau of […]

Nigeria’s non-oil exports rise to $1.79bn in Q1 2025 – NEPC
News

Nigeria’s raw materials exports rise despite value addition policy

Despite the federal government’s efforts to mandate value addition before export, the value of raw materials exported from Nigeria rose drastically by 159 per cent year-on-year to N1.87 trillion in the first half of 2025. This increase is also reflected in the quarter-on-quarter comparison, with a 67.8 per cent rise from N1.11 trillion in the […]

Nigerian food exports rise amid naira devaluation concerns
News

Nigerian food exports rise amid naira devaluation concerns

Melvin Onwubuke The National President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, Dele Kelvin Oye Esq., has said that the recent devaluation of the naira was fuelling food and grain export to West African countries as Nigeria’s food is now the cheapest in the West African, region due to the […]

Crude hits $83 as Nigeria's export passes 1.4mbpd
Oil and Gas

Crude hits $83 as Nigeria’s export passes 1.4mbpd

Data from the Federal Government indicates Nigeria’s oil output surged to 1,426,574 barrels per day in January 2024. This news caused the global benchmark for crude, Brent, to rise to $83.19/barrel on Tuesday evening, moving up $1.19 from its overnight price. The PUNCH stated that, Nigeria would receive more foreign cash due to the small […]

Japan's exports slip, sparks global economic concerns
News

Japan’s exports slip, sparks global economic concerns

Japan has experienced a decline in its exports for the first time in almost two and a half years, driven by weakened demand for light oil and chip-making equipment. This situation has raised worries about a possible global recession, particularly as key markets like China face a drop in demand. Recent data from the Ministry […]

NEPC, GIZ promote production in agricultural sector
Business

NEPC trains 50 onion farmers, marketers on export process in Sokoto

50 onion farmers and marketers have received training from the Nigerian Export Promotion Council on export regulations, financial incentives, and other value chains. The NEPC Trade Adviser and Head of the Sokoto zonal office, Yahaya Ahmad-Sukaraiju, stated that the training was a part of the organization’s attempts to educate company owners about onion value chains. Ahmad-Sukaraiju […]

Only four Nigeria states attract foreign investment in Q4 - Report
Business

Lagos ports processed 90% Nigerian exports in Q1 – NBS

In the first quarter of 2023, various ports in Lagos handled 97.13 percent of exports and 81.5 percent of imports, accounting for about 90 percent of all import-export transactions in Nigeria. Results from the National Bureau of Statistics Foreign Trade in Goods Statistics for Q1’23 reveal that N10.83 trillion, or 89.9% of Nigeria’s overall trade of N12.05 […]

US, EU forge alliance to address China's export control
News

US, EU forge alliance to address China’s export control

In a significant move to address mounting concerns about China’s non-market practices, Washington and the European Union are set to announce their commitment to joint action and coordinated export controls. The draft statement, providing a glimpse into the upcoming EU-U.S. Trade and Technology Council meeting, reveals a strategic alliance aimed at tackling economic coercion and […]

Nigeria is Norway's top importer of stockfish - Report
Foods

Stockfish importers complain about currency ban on products

The Premier Stockfish Importers Association of Nigeria asserts that given the ongoing prohibition on stockfish from accessing foreign exchange, the future of the stockfish industry is likely to remain bleak. According to the News Agency of Nigeria, this was said in an interview on Thursday in Lagos by the association’s chairman, Mr. Gregory Ilobinso. Stockfish, […]

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