The Nigerian Export Promotion Council (NEPC) has reported a 20.79% increase in the country’s non-oil exports, reaching $5.456 billion in 2024, surpassing the $4.5 billion recorded in 2023.
Executive Director of NEPC, Nonye Ayeni, disclosed this during a media briefing on the sector’s performance in Abuja on Friday. She highlighted that the surge reflects Nigeria’s ongoing efforts to diversify its economy beyond crude oil.
The growth was largely driven by increased export activities in agriculture, manufacturing, and solid minerals. Notable contributors included cocoa seeds, cocoa butter, sesame seeds, cashew nuts, urea and other manufactured goods.
Ayeni credited the rise to strategic collaborations with relevant agencies and institutions, stating that despite global economic challenges, Nigeria’s non-oil sector has continued 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 per cent increase compared to the $4.517bn recorded in 2023,” she said.
Ayeni attributed the achievement to the active diversification of the economy with a focus on agriculture, solid minerals and manufacturing.
She also said it reflects the positive impact of the federal government’s efforts to enhance trade through effective fiscal and financial policy implementation.
Vanguard
