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    Nigeria’s non-oil exports hit $4.82bn in 2022

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    Nigeria’s non-oil exports increased by 39.91% to $4.820 billion in 2022, according to data released on Friday by the Nigerian Export Promotion Council.

    Dr. Ezra Yakusak, the Executive Director and CEO of the NEPC, disclosed this at the presentation of the executive summary of the activities of the Nigerian Export Promotion Council and presentation of the Non-oil export performance for year 2022 to the media in Abuja.

    Despite the challenging economic conditions brought on by COVID-19’s impact and the global economic downturn, he said it was heartening to see that the sector had produced a noteworthy and extremely impressive outcome, with non-oil export earnings of US$ 4.820 billion recorded for the year under review.

    The NEPC boss said that the country’s non-oil exports record for 2022 reached its highest since the establishment of the NEPC 47 years ago, acknowledging export intervention programmes by the NEPC over the years.

    According to Yakusak, “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.”

    Noting the breakdown of the non-oil performance, Yakusak said 1,172 exporters participated with Indorama-Eleme Fertilizer and Chemical Limited taking the lead 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.

    “The month of December recorded the highest export value of 10.37 per cent,’’ Yakusak said.

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    Queen Ferry
    Queen Ferry
    Chinyere Treasure Ikechukwu known professionally as Queen Ferry, is a Nigerian business Executive, Journalist and Content Editor. She serves as the Vice-Chairman of Naijatraffic Limited and also the CEO of Wakadaily. If Treasure is not blogging, she will be making delicious delicacy.

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