The Nigerian Export Promotion Council has declared a significant 20.79% growth in the country’s non-oil exports, reaching $5.456 billion in 2024, surpassing the $4.5 billion recorded in 2023.
Speaking at a press briefing in Abuja on Friday, NEPC Executive Director Nonye Ayeni highlighted the growth as a sign of Nigeria’s commitment to economic diversification.
She attributed the surge to the expansion of agricultural exports, including cocoa, sesame seeds, and cashew nuts, as well as increased output in solid minerals and manufacturing.
“Despite economic challenges and the global downturn, the Council, through collaborations with relevant agencies and institutions, has contributed to economic diversification, achieving an impressive non-oil export performance,” Ayeni stated.
She emphasized that government policies aimed at boosting trade, alongside strategic fiscal and financial interventions, played a crucial role in this achievement.
Ayeni claims that President Bola Tinubu’s administration’s Renewed Hope Agenda has enhanced ease of doing business, bolstered trade facilitation, and stimulated private sector export involvement.
Nigeria’s standing as a competitive participant in international commerce was strengthened by the increase in urea and manufactured products exports, which also contributed to the total increase.
Ayeni reaffirmed NEPC’s commitment to sustaining the momentum of supporting exporters and improving market access for Nigerian products around the world.
NEPC’s latest figures show a positive shift in Nigeria’s economic trajectory, highlighting the country’s ability to leverage its diverse resources and reduce its dependence on crude oil exports.
