The Nigerian Export Promotion Council (NEPC) has introduced that Nigeria’s commerce quantity in 2024 reached 7.2 metric tons, with a 20.7% improve in worth, totaling $5.45 billion.
Dr. Nonye Ayeni, Govt Director of NEPC, disclosed this on Monday throughout the Ministry of Trade, Commerce, and Funding’s retreat for the presentation of the 2025 roadmap in Abuja.
Ayeni highlighted a 20.7% development in export worth to $5.45 billion and enlargement to 126 nations, signaling Nigeria’s export progress.
“By way of worth, we grew by 20.7% to $5.45 billion, and we at the moment are represented in 126 nations. It is a clear indication that Nigeria is making vital progress,” she mentioned
Ayeni emphasised that NEPC’s mandate stays to diversify Nigeria’s financial system away from oil dependency by selling non-oil exports.
“We’re devoted to working with exporters, bettering their capability in good agricultural practices, and making certain we obtain the council’s mandate,” Ayeni mentioned.
She famous that the council performed roughly 629 capacity-building packages in 2024, in collaboration with improvement organizations and businesses, to reinforce the competitiveness of Nigerian exporters.
Ayeni additional highlighted NEPC’s ongoing efforts to facilitate worldwide market entry for Nigerian items.
“By mainstreaming these initiatives, we intention to extend the quantity and worth of non-oil exports, which can, in flip, assist to construct the capability of exporters.
“We additionally wish to supply worldwide certifications to our exporters freed from cost, enabling them to entry area of interest markets and promote their merchandise globally,” she mentioned.
“Our dedication to those efforts will considerably contribute to rising the quantity and worth of Nigeria’s non-oil exports,” Ayeni acknowledged.
Within the first quarter of 2024, Nigeria’s complete exports had been valued at N19.17 trillion, marking a 51% improve from the earlier quarter.
France emerged as the highest vacation spot for Nigerian exports in Q1 2024, accounting for 11.09% of the entire export worth, adopted by Spain (10.56%), the Netherlands (8.85%), India (8.41%), and america (6.84%). These nations primarily imported Nigeria’s crude oil and gasoline merchandise, reflecting sturdy power commerce ties.
