Nigeria’s Non-Oil Exports Surge to $5.46bn in 2024 – NEPC

The Nigerian Export Promotion Council (NEPC) has reported a significant 20.79% increase in Nigeria’s non-oil exports, which reached $5.456 billion in 2024, surpassing the $4.5 billion recorded in 2023.

Speaking at a media briefing in Abuja on the 2024 non-oil export sector performance, NEPC’s Executive Director, Nonye Ayeni, highlighted the sector’s resilience and diversification as key drivers of this growth. She emphasized that the shift away from oil dependency aligns with Nigeria’s economic diversification agenda.

Ayeni attributed the surge to heightened economic activities in agriculture, manufacturing, and solid minerals. She noted that agricultural exports, including cocoa seeds, cocoa butter, sesame seeds, and cashew nuts, played a major role, alongside the increased export of urea and manufactured goods.

“Despite economic challenges and global uncertainties, the NEPC, through strategic partnerships with relevant agencies and institutions, has bolstered economic diversification, achieving an impressive non-oil export performance of $5.456 billion in 2024. This marks a substantial 20.79% increase from the $4.517 billion recorded in 2023,” she stated.

She further highlighted that this growth reflects the impact of the federal government’s policies aimed at enhancing trade through effective fiscal and financial strategies.