Non- oil exports slipped to $ 4.5 billion last year, says NEPC

DFrom beans/ meal, cashew nuts/ kerESPITE the federal governnels, aluminum ingots and ment’s efforts to diversify hibiscus flower were top of the economy through non- oil the list,” she said. exports, the Nigerian Export She said the top commodities Promotion Council ( NEPC) in terms of total exported revealed that non- oil exports products were urea/ fertilizer dropped from $ 4.8 billion in which accounted for 20.1 per 2022 to $ 4.5 billion last year. cent, followed by cocoa beans NEPC equally attributed the at 13.19 per cent and sesame decline to factors such as seeds at 9.03 per cent. rejections, poor certification She said: “Of the top 20 of products, political crises in exporting companies in neighboring African cou nNigeria, Indorama, Eleme tries, exchange rate chalFertilizer and Chemical lenges as well a surge in interLimited took the lead with national trade among others. $ 524.33 million in value while The NEPC Chief Executive Dangote Fertilizer Limited Officer, Nonye A yeni, disrecorded the second- highest closed this yesterday while value of $ 383.07 million. presenting the council’s She stressed that a total of 32 progress report on the nonbanks participated in the oil export performance in establishment of NXP forms 2023 in Abuja. for export for the year with a Ayeni explained that a total total number of 21,390 NXP of 273 different products were forms processed. Zenith Bank exported in the period under Plc processed the highest NXP review ranging from manuforms at 39.09 per cent while factured, semi- processed, United Bank of Africa ( UBA) Plc solid minerals to agricultural and First Bank of Nigeria Plc commodities, which had a recorded 10.55 per cent and notable increase of approxi9.88 per cent respectively. mately 28.04 per cent comThe NEPC boss implored pared to the preceding year. financial institutions to take “A breakdown of the result advantage of the opportunishows the following based on ties in the non- oil export secinformation received from tor by supporting exporters to pre- shipment inspection enhance their capacity to scale agents ( PIAS), of the top 20 up productivity and access products exported in the year international markets, espe2023, urea, cocoa, beans, cially with the Africa sesame seed, so Continental Free Trade Area ( AFCFTA) implementation.