The Nigerian Export Promotion Council (NEPC) has announced a 20.79% increase in non-oil exports in 2024, amounting to over $5 billion, surpassing the revenue generated in 2023.
Speaking at a press briefing in Abuja, NEPC’s Executive Director, Mrs. Nonye Ayeni, described this achievement as a reflection of Nigeria’s resilience and commitment to economic diversification, aimed at reducing dependence on oil.
Mrs. Ayeni revealed that the country exported over 200 distinct products, ranging from manufactured and semi-processed goods to industrial extracts and agricultural commodities. Key exports included cocoa seeds, cocoa butter, sesame seeds, and a notable rise in Urea exports, which significantly contributed to overall growth.
Setting an ambitious 30% growth target for 2025, she reaffirmed NEPC’s commitment to strengthening export promotion strategies by enhancing value addition in key commodities and expanding market access through global trade partnerships.
She further called on financial institutions to support exporters by providing affordable financing, emphasizing that improved access to funding would boost foreign exchange earnings and sustain the momentum of non-oil export growth.
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