The Nigerian Export Promotion council (NEPC) has announced that non-oil exports generated $2.7 billion in revenue for the first half of 2024, representing a 6.26% increase compared to $2.5 billion in the corresponding period of 2023.
Dr. Nonye Ayeni, Chief Executive of NEPC, stated that during the period under review, the total export amount was 3.834 million metric tonnes with 211 different products ranging from agricultural commodities to extractive industry outputs.
The growth of export value was due to the successful government transition in May 2023 and what President Bola Tinubu has called the Renewed Hope agenda; besides this, NEPC’s “Operation Double Your Exports” initiative had an impact.
The NEPC chief executive emphasized their commitment towards working with stakeholders to stimulate growth in export business, thereby indicating earlier on how many different products can be exported, such as fresh vegetables, citrus peels, among others, which are increasingly obtaining global attention, according to him.
Dr. Ayeni also noted that there is still an unexploited capacity within the service sector, especially with regards to logistics and ICT industries, whereby he appealed for affordable financing from financial institutions for exporters looking to increase their production.
