Kehinde Fajobi
The Nigerian Export Promotion Council (NEPC) has announced a significant 20.79% increase in the country’s non-oil exports, which surged to $5.456 billion in 2024, up from $4.5 billion in 2023.
Nonye Ayeni, Executive Director of NEPC, revealed this growth during a press briefing in Abuja on Friday. She attributed the rise to Nigeria’s continued drive to diversify its economy away from crude oil dependency.
The increase was largely fueled by stronger export activities in agriculture, manufacturing, and solid minerals.
Key products contributing to this growth included cocoa seeds, cocoa butter, sesame seeds, cashew nuts, urea, and various manufactured goods.
Ayeni emphasised the role of strategic collaborations with key agencies and institutions in driving this success.
She noted that despite global economic challenges, Nigeria’s non-oil sector has remained resilient and continues to expand.
“Despite economic challenges and the global downturn, the Council, through collaborations with relevant agencies and institutions, has contributed to economic diversification, achieving an impressive non-oil export performance of $5.456bn in 2024.
“This represents a significant 20.79 percent increase compared to the $4.517bn recorded in 2023,” she said.
She credited the achievement to the focused efforts on diversifying Nigeria’s economy, particularly in agriculture, solid minerals, and manufacturing.
Ayeni also highlighted the positive influence of the federal government’s fiscal and financial policies aimed at improving trade.