Nigeria has seen a 28.04% increase in non-oil exports from the previous year, highlighting the country’s ongoing efforts to diversify its economy and reduce reliance on oil exports. This announcement was made by the Executive Director/CEO of the Nigerian Export Promotion Council (NEPC), Nonye Ayeni, during a recognition dinner in Lagos that honored top-performing non-oil export companies.
The event celebrated the resilience and innovation of industry leaders who have played a pivotal role in expanding Nigeria’s non-oil export capacity. Ayeni noted that a total of 273 distinct non-oil products were exported in 2023, encompassing a range of semi-processed goods and raw agricultural commodities.
Key exports highlighted by Ayeni included urea, cocoa beans, sesame seeds, soybeans, gold dore, cashew nuts, aluminum ingots, and hibiscus flowers. She stated, “These products have positioned Nigeria as a competitive player in global markets, bolstering foreign exchange inflows and contributing to the stabilization of the naira.”
Commending the efforts of exporters, Ayeni remarked, “Your contributions underscore Nigeria’s immense potential beyond oil and serve as an inspiration to other businesses to tap into opportunities in the non-oil sector.”
Additionally, she announced the launch of the “Double Our Non-Oil Export, DONE” initiative, aimed at doubling Nigeria’s non-oil exports in the coming years. This initiative aligns with the country’s industrial revitalization agenda and the renewed hope agenda, focusing on job creation, poverty alleviation, and sustainable economic development.