NEPC: Non-oil Exports Revenue Increased by 40% to $4.82bn in 2022

James Emejo in Abuja

The Nigerian Export Promotion Council (NEPC) has said Nigeria recorded non-oil export earnings of $4.82 billion in 2022, an increase of over 39 per cent
Its Executive Director/Chief Executive Officer (CEO), Ezra Yakusak, said this while presenting the 2022 non-oil export performance to journalists in Abuja at the weekend.

Yakusak said the figure represented a 39.91 per cent increase compared to 2021 when non-oil exports totalled $3.45 billion.
He said the figure is based on data collated from various pre-shipment inspection agents appointed by the federal government under the Pre-shipment Inspection Act of 2004.

Yakusak said it was the best yearly result since the NEPC was established 47 years ago.
He said the latest results lend credence to the fact that various export intervention programmes initiated and implemented by the council and other sister organisations gradually yielded desirable results throughout the year under consideration.

“About 214 different products ranging from manufactured, semi-processed, solid minerals to raw agricultural products were exported in 2022,” he said.
 “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/fertiliser 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.”
Yakusak provided a breakdown of non-oil performance, saying 1,172 exporters participated, with Indorama-Eleme Fertiliser and Chemical Limited leading with 23.25 per cent.

 “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,” he said.

“The month of December recorded the highest export value of 10.37 per cent.”
However, Yakusak noted that no African/Economic Community of West African States (ECOWAS) country was among the top ten importers of Nigerian products.
“We at the NEPC are working assiduously to change that trajectory, particularly in the wake of the Africa Continental Free Trade Area (AfCTA),” he said.

“The establishment of the Export Trade House in Lome, the solo exhibition in Gambia, and the 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.”