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Nigeria hits over $1bn in Non-oil Export

The Executive Director of the Nigeria Export promotion Council, Dr. Ezra Yakusak says Nigeria recorded 1.345 billion dollars in non-oil products export in the first quarter of this year.

He made this know while briefing newsmen on progress made in non-oil export in the first quarter of the year.

Dr. Yakusak said the amount represent an increase of 8.50 per cent over the first quarter of 2022 which was US$1.249 billion.

While giving the breakdown of the non-oil export performance for the first quarter, Dr Yakusak explained that a total number of 167 products were exported in the 1st quarter of 2023.

Dr. Yakusak noted the products according to him ranged from manufactured, semi-processed, solid minerals and raw agricultural commodities.

“Of the top-ten products exported in the first quarter of 2023, Urea, Cocoa Beans, Sesame Seed, Soya Beans/meal and Cashew nuts/kernels were top five. A total of 618, 184.06 metric tonnes of products worth US$75.829 million were exported to 12 ECOWAS Countries in the period under review. You may need to note that this figure is 15.6% increase over the 1st quarter exports of 2022.” he stated.

Nigerian products reaches 97 countries

Dr. Yakusak said 97 Countries, spread among five continents of the world, imported Nigerian products during the period under review.

The top five are Countries are Brazil, China, Japan, India and Netherlands.

“Regrettably, no African country made the top 10 non-oil export destination. We believe that the full implementation of the African Continental Free Trade Area (AfCFTA) will change this Trade trajectory”

Dr. Ezra Yakusak also said that the council was in talks with the Nigerian Universities Commission to Introduction “Export Promotion” as a course of study in Nigerian Universities Curriculum. he noted.

“This intervention is propelled by the need to inculcate basic exporting knowledge and skills to Nigerians in various tertiary institutions. The course when introduced to identified Universities, has the potential of making the young graduands to become employers of labour and therefore self reliant.”

He added that plans had been finalised to introduce a “Passport to Export”.

This is a document that would provide concise and comprehensive information on the requirements /procedure for export.

Reporting by Victoria Chimezie; Editing by Adeniyi Bakare