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.
Semi-processed and manufactured goods accounted for 36.61 percent of exports, exceeding Agriculture’s volume of non-oil exports of 30.12 percent, while precious stones accounted for 17.06 percent and other goods for 13.21 percent.
During the announcement of the non-oil export performance for the year 2022 in Abuja, the Executive Director/CEO of the Nigerian Export Promotion Council, Ezra Yukusak, disclosed this.
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The Pre-shipment Inspection Act of 2004 authorized the Federal Government to appoint Pre-shipment inspection agents, according to the NEPC chief.
Yakusak acknowledged the export intervention programs the NEPC throughout the years, noting that the nation’s non-oil export record for 2022 hit its greatest level since the NEPC’s founding 47 years prior.
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.
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“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.”
According to Yakusak, 1,172 exporters participated in the non-oil performance, with Indorama-Eleme Fertilizer and Chemical Limited leading with 23.25 percent.
“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,’’ he said.
However, Yukusak lamented the fact that no African country appeared in the top 10 list of Nigerian goods importers and stated that the NEPC was working to change that through the Africa Continental Free Trade Area.
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“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 stated.
He continued by saying that Nigeria’s non-oil exports were steadily shifting from its traditional agricultural exports to semi-processed/manufactured goods.
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“This is buttressed by the fact that out of the product group exported, agricultural products topped with 30.12 per cent.
“Semi processed/manufactured products 36.61 per cent and precious stones 17.06 per cent and others 13.21 per cent,’’ he said.
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